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anonymous

  • one year ago

Does anyone know how to solve this?? Alyssa purchased a house for $243,000 and obtained a mortgage for $231,000. She purchased 5 discount points and 4 origination point. What is the cost for each? a. discount points: $9,240; origination points: $11,550 b. discount points: $12,150; origination points: $9,720 c. discount points: $9720; origination points: $12,150 d. discount points: $11,550; origination points: $9,240

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  1. Valpey
    • one year ago
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    I know the origination points are 4% of the mortgage value, not the property value.

  2. anonymous
    • one year ago
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    Ok so would the discount points be the property value?

  3. Valpey
    • one year ago
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    It doesn't look like it. It seems like both of them are based on the Mortgage value seeing how D) is the only solution which fits.

  4. anonymous
    • one year ago
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    Ok. Thank you!

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