Mr. Fisher has built several houses and is offering buyers mortgage rates of 10% with 15 year term. Current rates are 10.75%. Fourth National Bank will provide the loans, if Mr. Fisher pays an equivalent amount up front to buy down the interest rate. If a house is sold for $290,000 with a 90% loan, how much would Mr. Fisher have to pay to buy down the loan?

Answer rating: 100% (QA)

FISHER FIRST WE WILL CALCULATE PMT WITH 10 LOAN 261000 290000 X ... View the full answer