Real Estate Math
A buyer's loan amount is $240,000. The lender charges an origination fee of 1.5%. How much is the origination fee?
A$2,400
B$3,600✓ Correct
C$4,800
D$1,600
Explanation
Origination fee = $240,000 × 1.5% = $240,000 × 0.015 = $3,600. To solve this, multiply the relevant values: $240,000 at 1.5%.. The correct answer is $3,600.. This is a common calculation on the Arizona real estate exam.
Related Arizona Real Estate Math Questions
- A property has a gross annual income of $120,000, a vacancy rate of 5%, and operating expenses of $40,000. What is the net operating income (NOI)?
- A lot measures 80 feet wide by 120 feet deep and sold for $7.50 per square foot. What was the sale price?
- A salesperson earns 3% on the first $200,000 of the sale price and 2.5% on amounts above $200,000. If the property sold for $380,000, what is the salesperson's commission?
- A property is 2.5 acres. How many square feet is this?
- An Arizona escrow requires the seller to prorate property taxes. The annual tax is $3,600. The closing is on April 30. How much does the seller owe for taxes (January 1 through April 30 = 120 days)? Use a 360-day year.
- A commercial property has an NOI of $85,000. If it sells at a 7% cap rate, what is the sale price?
- A seller nets $312,000 after paying a 5% commission. What was the sale price of the property?
- A buyer in Arizona purchases a home for $420,000 with a 20% down payment. What is the amount of the buyer's mortgage loan?
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →