Real Estate Math
A Hawaii buyer finances 80% of a $560,000 purchase. The origination fee is 1% of the loan. What is the origination fee?
AA. $4,480✓ Correct
BB. $5,600
CC. $4,000
DD. $3,200
Explanation
Loan amount = $560,000 × 0.80 = $448,000. Origination fee = $448,000 × 0.01 = $4,480. To solve this, multiply the relevant values: $560,000 at 80%.. The correct answer is A. $4,480.. This is a common calculation on the Hawaii real estate exam.
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