You have just obtained a mortgage to purchase your home. The ________ that you paid to obtain the loan are charges that must be paid at the time of the sale and serve to raise the effective cost of the loan.

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briyanuhh1355 briyanuhh1355

18-02-2020
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You have just obtained a mortgage to purchase your home. The ________ that you paid to obtain the loan are charges that must be paid at the time of the sale and serve to raise the effective cost of the loan.

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eooyibo123 eooyibo123 · Answer 1 · 2020-02-20T06:09:06+01:00

eooyibo123 eooyibo123

20-02-2020

Answer:

Points

Explanation:

Mortgage points or discount points are prepaid interest available when obtaining a mortgage.

When a lender charges the borrower points he is in effect increasing the yield on the loan above the interest rate agreed on the loan.

Borrowers can also offer points to the lender to obtain a reduced interest rate and reduced monthly payment in exchange for upfront payment of points.

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You have just obtained a mortgage to purchase your home. The​ ________ that you paid to obtain the loan are charges that must be paid at the time of the sale and serve to raise the effective cost of the loan.

Respuesta :

Otras preguntas

You have just obtained a mortgage to purchase your home. The ________ that you paid to obtain the loan are charges that must be paid at the time of the sale and serve to raise the effective cost of the loan.