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When a borrower receives the face amount of a discounted note less interest the amount is known as?
When a borrower receives the face amount of a discounted note less interest the amount, this is known as a discount loan. A discount loan is not actually discounted in the traditional sense.
Difference between interest rate and discount rate?
Interest rate is the amount that is paid over and above the original loan amount. Discount rate is the amount of money that is cut or reduced from the original price.
The percentage of the original loan amount that is paid in interest is called?
Rate
How much is the loan origination fee of a sixty five thousand dollar mortgage with a fee of three and a half points?
Each point represents 1% of the loan amount, so 3 & a half points would equal 3.5% of the 65,000 loan amount or $2,275
What all information do you need to feed in for calculating home loan using the home loan calculator?
A home loan calculator helps in finding out the loan amount that you can receive. You need to feed in the finance amount and tenor and the profit rate percentage.
How much is a discount point worth in real estate?
A discount point usually refers to 1% of the loan amount. For example to get an interest rate a quarter of a percent below market the lender may agree with 2 discount points paid up front.
When a borrower receives the face amount of a discounted note less interest the amount is known as?
When a borrower receives the face amount of a discounted note less interest the amount, this is known as a discount loan. A discount loan is not actually discounted in the traditional sense.
What is the difference of simple interest and simple discount?
Simple interest refers to interest that is only paid on principal. Simple discount refers to the amount that is deducted from the amount of the loan.
Difference between discount rate and interest rate?
Interest rate is the amount that is paid over and above the original loan amount. Discount rate is the amount of money that is cut or reduced from the original price.
Difference between interest rate and discount rate?
Interest rate is the amount that is paid over and above the original loan amount. Discount rate is the amount of money that is cut or reduced from the original price.
The percentage of the original loan amount that is paid in interest is called?
Rate
How much is the loan origination fee of a sixty five thousand dollar mortgage with a fee of three and a half points?
Each point represents 1% of the loan amount, so 3 & a half points would equal 3.5% of the 65,000 loan amount or $2,275
Annual percentage rate calculation?
Q. A applicant accepts an offer of a 25 years fixed rate loan from a lender at an interst rate 6 5%for an amount of $150,000. The lender charges include a loan origination fee of $4500 and 2 discount point. How do you calculate the APR ?
Federal Reserve-set interest rate to determine the amount needed to pay back the loan?
discount rate
What all information do you need to feed in for calculating home loan using the home loan calculator?
A home loan calculator helps in finding out the loan amount that you can receive. You need to feed in the finance amount and tenor and the profit rate percentage.
How do loan processing companies make money?
Loan processing companies make money from interest. Interest is a specific percentage of the original amount taken from the loan processing company. When taking out a loan, the loan user takes a specific amount and is expected to later pay the same amount plus the interest they owe.
Which of these describes the annual percentage rate?
the amount of finance fee that is charged on the loan for each year
