Real Estate Math
A Kentucky seller agrees to pay 3 points on a $280,000 loan as a seller concession. How much does the seller pay?
A$5,600
B$7,000
C$8,400✓ Correct
D$9,800
Explanation
Points = 3% × $280,000 = $8,400. Using the values given ($280,000), apply the appropriate formula..
Related Kentucky Real Estate Math Questions
- A Kentucky buyer's monthly mortgage payment is $1,440. If the annual interest rate is 6% and the loan amount is $200,000, what portion of the first payment is principal?
- An eastern Kentucky mineral rights parcel of 320 acres sells for $640 per acre. What is the total sale price?
- A Kentucky home sells for $350,000. The seller pays a 5.5% commission. How much does the seller net after commission?
- A property in Lexington sells for $390,000. The buyer puts 10% down. What is the LTV ratio?
- A Kentucky property has a gross rent of $54,000/year and a vacancy rate of 10%. What is the EGI?
- A Kentucky property sells for $595,000 and a 5% commission is paid. The listing broker retains 3% (of the sale price) and the buyer's broker receives 2%. What is the buyer's broker commission?
- A Kentucky property is purchased for $260,000. The buyer gets an 80% LTV mortgage. What is the down payment?
- A home is purchased for $200,000. After two years, the owner sells it for $230,000. What is the percentage increase in value?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →