Real Estate Math
A Texas homeowner refinances a $180,000 mortgage. The new loan has a 1.5% origination fee and 0.5 discount points. What are the total upfront loan costs?
A$3,600✓ Correct
B$2,700
C$3,150
D$4,500
Explanation
Origination fee = 1.5% × $180,000 = $2,700. Discount points = 0.5% × $180,000 = $900. Total = $2,700 + $900 = $3,600.
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