Finance
In Hawaii, a 'point' paid on a mortgage loan equals:
AA. 0.1% of the loan amount
BB. 1% of the loan amount✓ Correct
CC. $1,000 per year of the loan term
DD. 1% of the purchase price
Explanation
One mortgage point equals 1% of the loan amount. Discount points are prepaid interest that reduce the loan's interest rate.
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