Posted by **tera** on Wednesday, December 19, 2012 at 8:47pm.

the price of a home is 120000 the bank requires a 10% down payment and 2 points at the time of closing the cost of the home is financed with a 30 year 8.5% how much must be paid for the 2 points at closing and how do I figure that amount

- math -
**Henry**, Thursday, December 27, 2012 at 10:10pm
Dn payment = 0.1*12000 = $12,000

Po = 120,000-12,000 = $108,000 =

Amt. Financed.

2 points = 2% of loan amt(Po).

2 Points = 0.02 * Po=.02 * 108000=$2160.

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