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Home
—›
mortgage
?
In a case where a borrower pays 2 discount points
on a mortgage loan, which of the following is
true?
The nominal rate and the APR will be the
same.
The nominal rate will be lower than
the APR.
The nominal rate will be higher than
the APR.
The nominal rate will be higher than the
APR but only in an adjustable-rate mortgage
loan.
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
B. Discount points are prepaid interest and will result in a lower nominal rate and higher APR.
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