Business, 12.08.2020 04:01, dornauriel

A buyer purchased a new residence for $175,000. The buyer made a down payment of $15,000 and obtained a $160,000 mortgage loan. The builder of the house paid the lender 3% of the loan balance for the first year and 2% for the second year. This represented a total savings for the buyer of $8,000. What type of mortgage arrangement is this

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A buyer purchased a new residence for $175,000. The buyer made a down payment of $15,000 and obtaine...