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NMLS Practice Test Hard Questions Flashcards | Quizlet. 4.6 (116 reviews) A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the …

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24/7 online access. Highly interactive with some audio. Ability to review, reset, & retake electronic-cards & exam questions. Supported and Managed by a live instructor. All instructors have more than 10,000 hours of NMLS training. Recorded course available for review after completion. Electronic workbook and study guides provided.

To determine the answer to this question, first you need to know what 3% of $210,000 is. $210,000 x 3% = $6300. Now, that is what the borrower pays in interest in 1 year. To determine how much interest the borrower pays monthly, you would divide $6300 by 12 to get $525. So $525 of the borrower's payment will be interest.

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