If a borrower chooses an above-par interest rate that results in a closing cost credit of 2%, how much would her settlement costs be reduced assuming a purchase price of $230,000 and a down payment of 15%?
A. $4,600
B. $690
C. $3,910
D. $2,932
Answer:C
If a borrower chooses an above-par interest rate that results in a closing cost credit of 2%, how much would her settlement costs be reduced assuming a purchase price of $230,000 and a down payment of 15%?
A. $4,600 B. $690 C. $3,910 D. $2,932