Real Estate MathIntermediateDelaware Exam
A Delaware buyer's loan amount is $240,000 at 5.5% annual interest. Points paid at closing are 2 points. What is the dollar cost of the points?
A$4,800Correct
B$4,400
C$5,200
D$2,400
Why $4,800 Is Correct
Answer A: $4,800
One point = 1% of the loan amount. Cost of 2 points = 2% × $240,000 = $4,800.
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
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