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A property sold for $80,000 and the buyer obtained an FHA insured loan for $77,000, how much money would the buyer pay in discount points the lender charged three points?

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oreoluwa2001ng

Answer: $2,310

Explanation:Discount points are fees mortgage borrowers can purchase that lowers the amount of interest they have to pay on subsequent payments. Each discount point generally costs 1% of the total loan amount.

From the question, the loan amount is $77,000, discount points are 1% of $77,000 =$770.

Lender charged 3 discount points

= $770 * 3= $2,310

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