What does it show when when someone say "at 3 points "?
It have something to do near lend money please explian?
Answers:
"At 3 points" = The cost of the loan to the borrower
Each point = 1% of the loan amount, so
1 point = 1 % of the loan amount
2 points = 2% of the loan amount, etc.
For example, $50,000 at 3 points is:
$50,000 x 3% = 1500.00 = Cost of the loan to the borrower
$50,000 + $1500.00 = $51,500 Total Loan Amount
3 percent
3% so you can be offered a loan (a)6% near 3 point to the broker target 9%. but the points may not be re-curring
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Answers:
"At 3 points" = The cost of the loan to the borrower
Each point = 1% of the loan amount, so
1 point = 1 % of the loan amount
2 points = 2% of the loan amount, etc.
For example, $50,000 at 3 points is:
$50,000 x 3% = 1500.00 = Cost of the loan to the borrower
$50,000 + $1500.00 = $51,500 Total Loan Amount
3 percent
3% so you can be offered a loan (a)6% near 3 point to the broker target 9%. but the points may not be re-curring