Real Estate Math
A Connecticut buyer needs to take out a loan for 80% of the purchase price. The purchase price is $472,500. What is the required down payment?
A$94,500✓ Correct
B$85,000
C$90,000
D$80,000
Explanation
Down payment = $472,500 × 20% = $94,500. To solve this, multiply the relevant values: $472,500 at 80%..
Related Connecticut Real Estate Math Questions
- A Connecticut property investor wants a 9% return on their $150,000 cash investment. What minimum annual NOI is required?
- A buyer has $120,000 for a down payment. If lenders require a minimum 25% down for investment properties, what is the maximum property price the buyer can afford?
- An investor buys a property for $750,000 and sells it 2 years later for $832,500. What is the total return on investment?
- A property manager in Connecticut charges 8% of collected rents. The managed property collects $12,500 per month. What is the annual management fee?
- A Connecticut property's assessed value is $196,000 at a 70% assessment ratio. What is the market value?
- A buyer takes a 15-year fixed mortgage for $280,000 at 6%. Compared to a 30-year mortgage at the same rate, the 15-year mortgage will have:
- An agent receives a $12,000 referral fee. Their broker takes 20% of all referrals. How much does the agent net from this referral?
- A Connecticut property's taxes are $8,730/year. The assessment is $291,000 at a ratio of 70%. What is the market value and mill rate?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →