What are mortgage points? How much would a home buyer have to pay if the lender wanted to charge 2.5 points on a $250,000 mortgage? When would this amount have to be paid? What effect do points have on the mortgage’s rate of interest?
Answer to relevant QuestionsWhat are closing costs, and what items do they include? Who pays these costs, and when?What information is normally included in a real estate sales contract? What is an earnest money deposit? What is a contingency clause?Why is it advisable for the prospective home buyer to investigate property taxes?Use Worksheet 5.2. Aurelia Montenegro is currently renting an apartment for $725 per month and paying $275 annually for renter’s insurance. She just found a small town-house that she can buy for $185,000. She has enough ...1. What are some basic purchasing guidelines that the Harrisons should consider when choosing which new car to buy or lease? How can they find the information they need?2. How would you advise the Harrisons to research the ...
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