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vicksiky
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Which of the following is not true about a loan discount point? a. A point is purchased at the time of closing. b. A point is purchased for 1% of the loan amount. c. A point reduces the interest rate by 1%. d. A point bought will reduce the monthly mortgage payment.

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FlorineCrayton

The answer to this question is letter a. A point is purchased at the time of closing. All choices (,A  point is purchased for 1% of the loanamount., A point reduces the interest rate by 1% and A point bought will reduce the monthly mortgage payment) are true. 

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