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Nelson has a 30-year mortgage on his $175,000 home. His bank required a 20% down payment and initially offered him a rate of 5.75%, but he chose to buy 2 points and lower his rate. His current mortgage is $756.98. Taking all this into consideration, what is the total financed price he paid for his home?

Nelson has a 30year mortgage on his 175000 home His bank required a 20 down payment and initially offered him a rate of 575 but he chose to buy 2 points and low class=

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Answer:

$310312.80

Explanation:

Apex answer

The correct option is A. Nelson is paid $321,767.70 which is nearby to $321,963.35 for his home.

What is a Mortgage?

An agreement known as a mortgage is made between you and a lender and gives the lender the right to seize your property if you are unable to pay back the amount you borrowed plus interest.

The calculation is in the file attached below:

Thus, Nelson paid $321,767.70 for his home.

Learn more about mortgages here:

https://brainly.com/question/13447700

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