Real Estate Math (alternative)
A Maryland home that sells for $325,000 is financed at 80% LTV. The buyer pays 1.5 discount points. How much are the discount points?
A$2,437.50
B$3,250.00
C$3,900.00✓ Correct
D$4,875.00
Explanation
Loan = $325,000 × 80% = $260,000. Points = 1.5% × $260,000 = $3,900. To solve this, multiply the relevant values: $325,000 at 80%.. The correct answer is $3,900.00.. This is a common calculation on the Maryland real estate exam.
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