Real Estate Math
A Mississippi home sells for $185,000. The buyer pays 3.5% down. The FHA loan amount is:
A$178,475✓ Correct
B$175,500
C$180,000
D$174,250
Explanation
Down payment = $185,000 × 3.5% = $6,475.
Related Mississippi Real Estate Math Questions
- A Mississippi investor purchases a rental property for $120,000. The annual gross rent is $14,400 and annual expenses are $5,400. The capitalization rate is approximately:
- A Mississippi property's market value is $250,000. It is assessed at 15% of market value. The tax rate is 80 mills. The annual tax is:
- A Mississippi buyer gets a 95% LTV FHA loan on a $180,000 purchase price. The down payment is:
- A Mississippi property management company charges 8% of collected monthly rent for management fees. If monthly rent is $1,250, the monthly management fee is:
- A home sold for $195,000. The listing broker and buyer's broker split the 6% commission equally. The listing agent receives 55% of the listing side commission. How much does the listing agent receive?
- A seller in Mississippi wants to net $150,000 after paying a 6% commission. What is the minimum price the property must sell for (rounded to the nearest dollar)?
- A Mississippi property sells for $225,000. The buyer pays 20% down. What is the loan amount?
- A Mississippi licensee earns a salary of $2,000 per month plus a 2% commission on sales. If the licensee's monthly sales total $300,000, what are their gross monthly earnings?
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →