Real Estate Math
An Iowa commercial building sells for $1,200,000. The buyer pays 30% down. What is the loan amount?
A$720,000
B$800,000
C$840,000✓ Correct
D$880,000
Explanation
Loan amount = $1,200,000 × (1 − 30%) = $1,200,000 × 70% = $840,000. To solve this, multiply the relevant values: $1,200,000 at 30%..
Related Iowa Real Estate Math Questions
- A buyer paid $325,000 for a home. Two years later they sell it for $357,500. What was the annual rate of appreciation (simple)?
- A buyer secures a $180,000 mortgage at 6% annual interest for 30 years. What is the total interest paid over the life of the loan if the monthly payment is $1,079.19?
- An Iowa investor purchases a duplex for $180,000 and charges $800/month per unit. What is the gross rent multiplier (GRM)?
- An investor bought a rental property for $200,000 and finances it with a 20% down payment. What is the loan amount?
- A real estate investor receives monthly rent of $1,800 from a rental property. What is the gross rent multiplier if the property is valued at $216,000?
- A rectangular parcel of land measures 330 feet by 660 feet. How many acres is this? (1 acre = 43,560 sq ft)
- An Iowa buyer obtains an 80% LTV mortgage on a $275,000 home. What is the loan amount?
- An Iowa property generates annual gross rents of $48,000. A vacancy and collection loss of 5% is deducted. Operating expenses are $22,000. What is the NOI?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →