Real Estate MathIntermediateDelaware Exam
A Delaware home sells for $375,000. The buyer puts 20% down and takes a 30-year mortgage. What is the loan amount?
A$275,000
B$300,000Correct
C$310,000
D$280,000
Why $300,000 Is Correct
Answer B: $300,000
Down payment = $375,000 × 0.20 = $75,000.
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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