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.
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?
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