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You want to buy a house for $243,500. You can get a loan for 90% of value. You will also have to pay 2. 75 points on the loan. How much will you have to deliver to closing to cover both the down payment and the loan points?

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francocanacari

You will have to deliver $30,376.63 to closing to cover both the down payment and the loan points.

Amount determination

Given that you want to buy a house for $243,500, and you can get a loan for 90% of value, and you will also have to pay 2.75 points on the loan, to determine how much will you have to deliver to closing to cover both the down payment and the loan points, the following calculation must be made:

  • 243,500 x 0.9 x 0.0275 + 243,500 x 0.1 = X
  • 6,026.63 + 24,350 = X
  • 30,376.63 = X

Therefore, you will have to deliver $30,376.63 to closing to cover both the down payment and the loan points.

Learn more about amount calculation in https://brainly.com/question/27108313

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