If Your Lender Charges 1

question 10

Multiple Choice

If your lender charges 1.5 mortgage points on a house selling for $100,000, on which there is a $90,000 loan, the points will cost you:

• A) $1,350.
• B) $1,500.
• C) $2,850.
• D) $150.
• E) $900.

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Definitions:

Selective Demand

Consumer demand focused on distinct brands or products rather than on the category as a whole, often influenced by marketing strategies.

Product Class

Product class pertains to the category or grouping of products based on similar characteristics, uses, or intended customers.

Competitors

Companies or entities that offer similar products or services in the same market, vying for the same customer base.

Generic Demand

The overall demand for a category of products or services rather than for a specific brand.