The price of a home is ​$102,000. The bank requires a​ 20% down payment and three points at the time of closing. The cost of the home is financed with a​ 30-year fixed-rate mortgage at 9.5%

 Find the required down payment.

20% of 102,000 = 20,400

Loan amount = 102,000 - 20,400 = 81,600
3% of 81,600 = 2,448
Total downpayment = 20,400 + 2,448 = _____

To find the required down payment, we need to calculate 20% (or 0.2) of the price of the home.

Step 1: Multiply the price of the home by 0.2 (20%)
Down payment = $102,000 * 0.2 = $20,400

Therefore, the required down payment for the home is $20,400.