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Megan Mei is charged 2 points on a $120,000 loan at time of closing. The original price of the home before the down payment was $140,000. The points in dollars cost Megan:
a)$2,400b)$2,800c)$4,200d)$8,200e)None of these
 one year ago
 one year ago
Megan Mei is charged 2 points on a $120,000 loan at time of closing. The original price of the home before the down payment was $140,000. The points in dollars cost Megan: a)$2,400b)$2,800c)$4,200d)$8,200e)None of these
 one year ago
 one year ago

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slaaibakBest ResponseYou've already chosen the best response.0
I'm not sure what you mean by "charged 2 points"
 one year ago

SharkbaitBest ResponseYou've already chosen the best response.0
it means 2% of the mortgage.
 one year ago

SharkbaitBest ResponseYou've already chosen the best response.0
I don't know if it is off the 120,000 or the 140,000?
 one year ago

slaaibakBest ResponseYou've already chosen the best response.0
Well, I'd say it's on the 120 000, since the sentence says "2 points on a $120,000 loan" So I'd go with 2400
 one year ago

SharkbaitBest ResponseYou've already chosen the best response.0
Thanks. how do you get points for helping me?
 one year ago
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