Real Estate Licensing Massachusetts-Real-Estate-Salesperson Exam - Topic 8 Question 13 Discussion

Actual exam question for Real Estate Licensing's Massachusetts-Real-Estate-Salesperson exam

Question #: 13
Topic #: 8

[All Massachusetts-Real-Estate-Salesperson Questions]

A building was purchased for $350,000 with a 20% down payment. If the lender charged the buyer three discount points, how much will the buyer need to close?

A$61,600

B$78,400

C$80,500

D$360,500

Show Suggested Answer

Suggested Answer: C

by Clorinda at Apr 07, 2026, 10:05 AM

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Gertude

18 days ago

Three discount points means 3% of the loan amount.

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Una

23 days ago

The down payment is $70,000.

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Gayla

1 month ago

I feel like I might be mixing up the terms here. Are discount points added to the closing costs or deducted from the loan amount?

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Eun

1 month ago

I practiced a similar question last week, and I think the total closing cost includes the down payment plus the points, but I can't recall the exact formula.

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Corrina

2 months ago

I think the down payment is 20% of $350,000, which is $70,000, but I need to double-check the points calculation.

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Boris

2 months ago

I remember something about calculating down payments, but I'm not sure how to factor in the discount points.

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