Real Estate Math
A Virginia buyer takes out a $350,000 loan. Points paid: 1.5 points. PMI: 0.65% annually. What are the upfront points cost?
A$3,500
B$5,250✓ Correct
C$2,275
D$5,750
Explanation
Points = $350,000 × 1.5% = $5,250.
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