Real Estate Math
A NH condominium association charges monthly fees of $325. Annually, how much does a unit owner pay in assessments?
A$3,600
B$3,900✓ Correct
C$4,000
D$3,250
Explanation
Annual assessment = $325 × 12 = $3,900. Using the values given ($325), apply the appropriate formula.. The correct answer is $3,900.. This is a common calculation on the New Hampshire real estate exam.
Related New Hampshire Real Estate Math Questions
- A NH property's assessed value is $380,000 and the mil rate is 18.4 mills. What is the semi-annual property tax installment?
- A NH buyer finances $320,000 at 6.5% for 30 years. Using a monthly payment factor of $6.32 per $1,000, what is the approximate monthly PI payment?
- A NH property has a $3,200/month gross rent and 10% vacancy. Annual operating expenses are $9,800. At a 7% cap rate, what is the indicated value?
- A NH buyer makes an offer of $355,000 on a home listed at $379,000. The seller accepts a counteroffer of $365,000. The listing broker's 6% commission is based on the actual sale price. What commission does the listing broker earn?
- A NH commercial property with 8,500 sq ft rents at $18/sq ft/year (NNN). What is the annual base rent?
- A NH couple earns a combined gross income of $8,500/month. At a 36% back-end DTI, what is their maximum monthly total debt allowance?
- A NH property has an assessed value of $280,000 and a tax rate of $22 per $1,000 of assessed value. What is the annual property tax?
- A NH buyer puts $55,000 down on a $275,000 home. What is the LTV ratio and will the buyer need PMI on a conventional loan?
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →