Question: Buck and Marie Rogers are negotiating with their local bank
Buck and Marie Rogers are negotiating with their local bank to secure a mortgage loan in order to buy their first home. With only a limited down payment available to them, Buck and Marie must borrow $300,000. Moreover, the bank has assessed them a half point on the loan. What is the dollar amount of points they must pay to receive this loan? How much home mortgage credit will they actually have available for their use?
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