Real Estate Math
A buyer in Kentucky puts 20% down on a $250,000 home. What is the loan amount?
A$50,000
B$175,000
C$200,000✓ Correct
D$225,000
Explanation
Down payment = $250,000 × 20% = $50,000. Loan amount = $250,000 − $50,000 = $200,000. To solve this, multiply the relevant values: $250,000 at 20%.. The correct answer is $200,000.. This is a common calculation on the Kentucky real estate exam.
Related Kentucky Real Estate Math Questions
- A Kentucky closing occurs on September 15. The annual property taxes are $3,600. Using a 365-day year, how much of the tax does the seller owe for their portion of the year?
- A lot in Louisville measures 66 feet by 132 feet. How many acres is this?
- A Kentucky property sells for $340,000. The buyer puts 5% down and gets a 30-year loan. The loan origination fee is 1.5%. What is the origination fee amount?
- A borrower pays $3,600 in points on a $180,000 loan. How many points did they pay?
- A property sells for $310,000. The county transfer tax is $0.50 per $500 of the sale price. What is the transfer tax?
- An agent's commission is $12,600 on a sale at a 6% rate. What was the sale price?
- A buyer pays $2,250 in interest in the first month on their mortgage. What is the outstanding loan balance if the annual interest rate is 6%?
- A Kentucky home sells for $350,000. The seller pays a 5.5% commission. How much does the seller net after commission?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →