Real Estate Math
How many square feet are in a quarter section of land?
A43,560 sq ft
B435,600 sq ft
C2,613,600 sq ft✓ Correct
D6,534,000 sq ft
Explanation
One section = 640 acres. One quarter section = 160 acres.
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Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
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