Real Estate Math
A buyer makes a 25% down payment on a $480,000 home. What is the loan amount?
A$340,000
B$360,000✓ Correct
C$380,000
D$400,000
Explanation
Down payment = $480,000 × 0.25 = $120,000.
Related New Jersey Real Estate Math Questions
- A NJ property manager charges 8% of monthly rent for management. The property has 4 units each renting for $1,800/month. What is the annual management fee?
- A NJ seller receives a full-price offer of $485,000. After paying 5% commission, $2,000 attorney fee, $1,500 transfer tax, and paying off their $280,000 mortgage, what are the net proceeds?
- A NJ property is listed for $385,000. After 60 days without an offer, the seller reduces the price by 3%. What is the new list price?
- A NJ mortgage is for $360,000 at 5.5% annual interest. Using simple interest for the first month, what is the interest portion of the first payment?
- A NJ property is listed at $419,000. The seller accepts an offer for 97% of list price. What is the accepted sale price?
- A NJ property generates $92,000 NOI annually. If an investor pays $1,150,000, what cap rate did they accept?
- A NJ building has 8 units all renting at $1,650/month with a 6% vacancy rate. Annual operating expenses are $40,000. What is the annual NOI?
- A NJ property generates annual NOI of $45,000 after deducting operating expenses. Annual debt service (mortgage payments) is $28,000. What is the annual cash flow before taxes?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →