Bryson Darbert G.

asked • 04/23/19

Math help price of home

the price of a home is 240000 the bank requires a 20% down payment and two points at the time of closing. the cost of the homes is financed with a 30 year fixed rate mortage at 6.5% how much must be paid for the two points at closing.

1 Expert Answer

By:

James R.

tutor
By the way, my answer assumes that the amount financed is only the balance of the house price less the down payment. There are situations where the amount financed could include other things. The same math would apply, but the correct "amount financed" would need to be used.
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05/26/19

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