30. Closing costs on the purchase of a house... **increase the...

30. Closing costs on the purchase of a house...

**increase the amount of cash available down payment

**reduce amount cash available down payment

**are paid by the lender

33. The tax advantages of home ownership include all of the following except
**tax-deductible maintenance costs up to $50,000.

**tax-deductible interest on up to $750,000 mortgage.

**tax-free gain on up to $250,000 in profit from the sale of your primary residence.

34. An interest rate cap is likely to be associated with a(n) ________ mortgage.
**growing equity

**fixed-rate

**adjustable rate

35. 
Borrowers sometimes pay points to their mortgage lender in order to

**reduce the interest rate.

**cover their closing costs.

**reduce the principal balance of the loan.

39. Charles is considering a mortgage loan with two points. If he plans to make a down payment of $40000 and finance $230000, how much will two points cost him?

**$3800

**$4600

**$800