Real Estate Math
A property in Colorado sold for $390,000. The buyer paid 5% down. The lender charges 1.5% origination fee on the loan amount. What is the origination fee?
AA. $5,557.50✓ Correct
BB. $5,850
CC. $5,557
DD. $5,542.50
Explanation
Loan Amount = $390,000 × (1 - 0.05) = $390,000 × 0.95 = $370,500. Origination Fee = $370,500 × 1.5% = $5,557.50.
Related Colorado Real Estate Math Questions
- A Colorado investment property is purchased for $500,000. The investor requires an 8% cash-on-cash return on a $125,000 down payment. What annual cash flow is needed?
- A Colorado buyer purchases a home for $325,000 with a 10% down payment and a 30-year loan at 7.25%. The monthly P&I payment is $1,995. Approximately how much principal is repaid in Year 1?
- A Colorado property has an NOI of $55,000 and sold at a 7.5% cap rate. What was the purchase price?
- A Colorado property has NOI of $90,000 and an asking price of $1,200,000. What is the cap rate?
- A Colorado buyer finances 80% of a $500,000 purchase. The lender charges 1.5 discount points. How much does the buyer pay in points?
- A Colorado buyer puts 10% down on a $450,000 home. The transfer tax is 0.01% of the sale price. How much is the transfer tax?
- A Colorado property with a market value of $600,000 is assessed at the residential rate of 7.15% of actual value. With a mill levy of 75 mills, what is the annual property tax?
- A Colorado tenant signs a 12-month lease at $1,800/month. The lease requires a security deposit equal to 2 months' rent. The tenant pays first month, last month, and security deposit upfront. What is the total amount paid at move-in?
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →