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National Mortgage Licensing System (NMLS) SAFE Exam – Sample Time limit: 0 Quiz-summary 0 of 10 questions completed Questions: 1

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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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