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Real Estate Math

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Randolph G
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Real Estate Math

Frage 1 von 15

1

A real estate salesperson brings a buyer to a For-Sale-By-Owner transaction. The home sells for $120,000, and the seller agrees to pay a commission of 3%. The salesperson is on a 65% commission schedule with her broker. How much will the salesperson receive from this transaction?

Wähle eine der folgenden:

  • $2,300

  • $2,340

  • $4,680

  • $7,200

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Frage 2 von 15

1

Sales associate Shirley and her broker agree to split commissions on a
60/40 basis, respectively(associate, 60%; broker, 40%). How much
commission will the sales associate earn if she lists and sells (both sides of
the deal) the property for $240,000 and the listing commission was 7%?

Wähle eine der folgenden:

  • $16,800

  • $1,176

  • $10,800

  • $10,080

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Frage 3 von 15

1

Jerry is a sales agent at Ready Realty and enjoys an 80/20 split with
his broker (Jerry receives 80%). Recently Jerry closed on a $375,000
deal where he only represented the buyer. If the property was listed
at 6%, what was Jerry’s commission?

Wähle eine der folgenden:

  • $22,500

  • $11,250

  • $9,000

  • $18,000

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Frage 4 von 15

1

A sales associate and a broker and split commission on a 70/30 basis,
respectively. How much commission will the broker receive if his
brokerage represents both sides, the home sells for $230,000 and the
listing commission rate is 7%?

Wähle eine der folgenden:

  • $4,830

  • $8,760

  • $16,100

  • $12,200

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Frage 5 von 15

1

Lamar sells another broker's $800,000 listing for $785,000 at a commission rate of 6.5%. Lamar has a 40% commission split with his broker. If there is also a 50% brokerage split, what commission will Lamar receive?

Wähle eine der folgenden:

  • $51,025

  • $25,512.50

  • $12,756.25

  • $10,205

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Frage 6 von 15

1

The borrower is applying for a home loan of $225,000. If the lender charges an origination fee of 1%,
how much will the origination fee be?

Wähle eine der folgenden:

  • $2,000

  • $2,500

  • $2,250

  • $2,750

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Frage 7 von 15

1

The principle balance of a loan is $360,000. The monthly principal and interest payment will be $2,160 per month for 30 years. How much interest will be paid over the term of the loan?

Wähle eine der folgenden:

  • $777,600

  • $417,600

  • $417,000

  • $317,600

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Frage 8 von 15

1

If a homeowner has a loan for $360,000 at 5% interest, how much does the homeowner pay
in interest each month?

Wähle eine der folgenden:

  • $1,500

  • $11,500

  • $3,000

  • $18,000

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Frage 9 von 15

1

If a homeowner has a loan for $185,000 at 6.5% interest, how much does the homeowner
pay in interest each month?

Wähle eine der folgenden:

  • $3,000.06

  • $2,000.08

  • $1,002.08

  • $1,202.06

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Frage 10 von 15

1

Solve for the amount of monthly interest that is owed on an interest-only loan based on the following facts: Loan amount $115,000, annual interest rate of 7%?

Wähle eine der folgenden:

  • $8,050

  • $670.83

  • $750.25

  • $4,025

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Frage 11 von 15

1

The lender agreed to a loan based on an 90% LTV. If the contract price was
$187,000, what is the down payment amount?

Wähle eine der folgenden:

  • $18,700

  • $18,000

  • $16,300

  • $16,800

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Frage 12 von 15

1

The lender agreed to a loan based on an 85% LTV. If the contract price was
$225,000, what is the loan amount?

Wähle eine der folgenden:

  • $190,320

  • $225,000

  • $191,250

  • $180,250

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Frage 13 von 15

1

The lender agreed to a loan based on an 85% LTV. If the contract price was
$220,000 and the appraised value was $215,000, what is the down payment amount?

Wähle eine der folgenden:

  • $42,250

  • $22,250

  • $33,000

  • $32,250

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Frage 14 von 15

1

If a buyer agrees to a contract price of $279,000 for a home and the appraised value
is $274,000, what would the loan amount be at 85 LTV%?

Wähle eine der folgenden:

  • $41,850

  • $237,150

  • $41,100

  • $232,900

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Frage 15 von 15

1

If Jessica purchases a property for $290,000, and borrows $200,000 she is said to have a LTV ratio of….?

Wähle eine der folgenden:

  • $68.90

  • 68.9%

  • 75%

  • $75.00

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