Real Estate Math
A Lexington office building was purchased for $1,200,000 with a 25% down payment. What is the down payment amount?
A$240,000
B$300,000✓ Correct
C$360,000
D$400,000
Explanation
Down payment = $1,200,000 × 25% = $300,000. To solve this, multiply the relevant values: $1,200,000 at 25%..
People Also Study
Related Kentucky Questions
- A Kentucky property is purchased for $260,000. The buyer gets an 80% LTV mortgage. What is the down payment?Real Estate Math
- A Kentucky duplex was purchased for $180,000 with 25% down. What is the mortgage amount?Real Estate Math
- A Kentucky property is purchased for $450,000 with a 20% down payment and a 30-year loan at 5%. The monthly payment (P&I) is approximately $1,932. After the first payment, approximately how much principal has been paid?Real Estate Math
- A Kentucky income property was purchased for $600,000 with a 30% down payment. The NOI is $54,000. What is the cash-on-cash return?Real Estate Math
- An FHA-insured loan in Kentucky requires a minimum down payment of:Finance
- A VA loan for a Kentucky veteran's primary residence requires a down payment of:Finance
- A Kentucky buyer's loan application includes a credit score of 740, a stable 3-year employment history, and a 20% down payment on a $300,000 home. The most likely loan program is:Finance
- A Kentucky office building property manager who notices a slip-and-fall hazard in the parking lot should:Property Management
Key Terms to Know
Private Mortgage Insurance (PMI)
Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Math Concepts
Study This Topic
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →