A borrower is buying a house for $180,000, He provides a down payment of $40,000. If he pays three discount points, what is the total cost of the points?
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The borrower is buying a house for $180,000 and provides a down payment of $40,000. To find the loan amount, subtract the down payment from the total cost of the house: Loan amount = $180,000 - $40,000 = $140,000. Show more…
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