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The buyer obtains the necessary loan commitment from Clearwater Bank. The appraised value of the property is $580,000. The terms of the commitment include
The buyer obtains the necessary loan commitment from Clearwater Bank. The appraised value of the property is $580,000. The terms of the commitment include an 80% loan for 30 years at 6% annual interest, a 1% origination fee, and two discount points. (Remember that the seller has agreed to pay for a portion of the discount points.) What would the discount be for the buyer and how to calculate discount points?
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SOLUTION To calculate the loan amount origination fee and discount poin...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
