Brayan is charged 2 points on a $120,000 loan at the time of closing the origina

Question

Brayan is charged 2 points on a $120,000 loan at the time of closing the original price of the home before the down payment was $140,000 how much do the points in dollars cost Brayan Brayan is charged 2 points on a $120,000 loan at the time of closing the original price of the home before the down payment was $140,000 how much do the points in dollars cost Brayan Brayan is charged 2 points on a $120,000 loan at the time of closing the original price of the home before the down payment was $140,000 how much do the points in dollars cost Brayan

Explanation / Answer

A mortgage point is a fee equal to 1 percent of the loan amount ,

therefore

2 points = 2% of $120,000 = 2/100 *$120,000 = $2400

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