Question

A mortgage is in the amount of $200,000. The origination fee is 0.8%, the intangible tax is 0.2%, and there are 3.0 discount points.

Answer 1

Which of the following is the total cost of the origination fee, the intangible tax, and the discount points?

$8,000

$6,000

$2,000

$6,400

Answer 2

I guess if 3 discount points means 3% than you have 4% total and 4% of 200,000=8000. Is it really that easy?