Real Estate Math
A Nebraska buyer's offer of $285,000 is accepted. The lender requires a 25% down payment. The buyer also pays 1.5 points on the loan amount. What is the total cash needed for down payment and points?
A$74,456.25✓ Correct
B$71,250.00
C$76,000.00
D$72,000.00
Explanation
Down = $285,000 × 25% = $71,250. Loan = $285,000 − $71,250 = $213,750. Points = $213,750 × 1.5% = $3,206.25. Total = $71,250 + $3,206.25 = $74,456.25.75.
Related Nebraska Real Estate Math Questions
- A buyer closes on September 15. Annual taxes of $4,200 have not been paid. Using 365 days, how many days does the seller owe the buyer for tax proration?
- A 200-unit apartment complex has an average monthly rent of $875/unit, a 6% vacancy rate, and annual operating expenses of $1,082,000. What is the annual NOI?
- A Nebraska investor purchases a property for $480,000 with 25% down and finances the balance at 6.5%. The annual interest on the mortgage in the first year is approximately:
- A Nebraska property with 3 rental units each renting for $950/month has a 5% vacancy rate. What is the effective gross income annually?
- A seller net of $150,000 is required after a 6% commission and $4,500 in closing costs. What must the property sell for?
- A Nebraska seller agrees to pay 6% commission on a sale of $395,000. The listing agent's broker gives them 55% of the listing side (50/50 split with buyer's agent). How much does the listing agent earn?
- A Nebraska property's market value is $380,000. It is assessed at 92% of market value with a mill rate of 17. Annual property taxes are:
- An investor buys a property for $400,000 and sells it 3 years later for $460,000. What is the percentage appreciation over the 3 years?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →