QUESTION 21 What is a "point" in lending? One percent of the property purchase price paid to the lender by the seller of the property One percent of the property purchase price paid by the real estate broker to the purchaser's lender One percent of the property purchase price paid to the lender by the borrower One percent of the total loan amount paid to the lender by the borrower QUESTION 22 Suppose a purchaser pays $25.000 down on a $150.000 piece of property and finances the remaining $125,000. If the property is sold 7 years later for $175,000, what is the value of the seller's equity? $25,000 550.000 plus any principal paid down on the mortgage $150,000 $175,000 QUESTION 23 A mortgage is a legally binding document that stipulates the conditions of a real estate loan True False QUESTION 24 What is the most important determinant of a property's valut? is site and the construction materials used its location its are Having public transportation avatable