Real Estate Math
A Maryland home is appraised at $480,000. The buyer makes a 15% down payment. What is the loan amount?
A$72,000
B$380,000
C$388,000
D$408,000✓ Correct
Explanation
Down payment = $480,000 × 0.15 = $72,000. Loan amount = $480,000 − $72,000 = $408,000. To solve this, multiply the relevant values: $480,000 at 15%.. The correct answer is $408,000.. This is a common calculation on the Maryland real estate exam.
Related Maryland Real Estate Math Questions
- A Maryland seller accepts an offer of $390,000 and pays a 5.5% commission. The seller also owes the buyer a $1,500 credit for repairs. Net to seller before other costs is:
- A Maryland agent receives a 2.5% co-op commission on a $480,000 sale and keeps 65% after the broker split. The agent's net commission is:
- A Maryland investment property costs $750,000 and generates an annual return of 6.5%. The annual income needed is:
- A Maryland investor needs a 9% return on a $450,000 commercial property. The required annual income is:
- Maryland recordation tax is $3.33 per $500 of consideration. On a $600,000 sale, the recordation tax is:
- A Maryland seller lists their home at $525,000 and agrees to pay a 5% commission. If the listing broker and buyer's broker split the commission equally, how much does each broker receive?
- A Maryland buyer makes a 10% down payment on a $380,000 home. The loan amount is:
- A Maryland investor sells a property for $575,000 after owning it for 5 years and receiving a total of $150,000 in rental income. The original purchase price was $400,000. Total gross profit is:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →