Finance
A New Mexico lender charges 'points' on a loan. One point equals:
A1% of the sales price
B1% of the loan amount✓ Correct
C$1,000 flat fee
D1% of the appraised value
Explanation
One point equals 1% of the loan amount. Points may be origination points (lender fee) or discount points (prepaid interest to reduce the interest rate). They are paid at closing.
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