Real Estate Math

How many square feet are in a quarter section of land?

A43,560 sq ft

B640 acres

C4,356,000 sq ft✓ Correct

D6,969,600 sq ft

Explanation

One section = 640 acres = 640 × 43,560 = 27,878,400 sq ft. A quarter section = 27,878,400 ÷ 4 = 6,969,600 sq ft.

The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.

A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.

The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.

A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.

1,500+ questions covering all exam topics. Start free — no signup required.