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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. Please select the best answer from the choices provided A B C D

User CarlJ
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Answer:

c. A point reduces the interest rate by 1%.

Explanation:

User Tallmad
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