Real Estate Math
A buyer purchases a $310,000 home with an FHA loan requiring 3.5% down. What is the buyer's down payment?
A$9,300
B$10,200
C$10,850✓ Correct
D$11,250
Explanation
Down payment = $310,000 x 3.5% = $10,850. To solve this, multiply the relevant values: $310,000 at 3.5%.. The correct answer is $10,850.. This is a common calculation on the Ohio real estate exam.
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