Real Estate Math
A buyer puts 10% down on a $450,000 Colorado home. The lender charges 1.5 origination points. How much are the origination points in dollars?
A$4,500
B$6,075✓ Correct
C$6,750
D$9,000
Explanation
Loan amount = $450,000 × 90% = $405,000. Points are calculated on the loan amount: $405,000 × 1.5% = $6,075.
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