Real Estate Math
An Oklahoma buyer's loan-to-value ratio is 80% and the purchase price is $300,000. What is the down payment?
A$240,000✓ Correct
B$60,000
C$30,000
D$24,000
Explanation
LTV of 80% means the loan is 80% of value, so the down payment is 20%. Down payment = $300,000 × 20% = $60,000. Loan amount = $300,000 × 80% = $240,000.
Related Oklahoma Real Estate Math Questions
- An Oklahoma property was assessed at $33,000 (after the 11% homestead ratio). The homestead exemption of $1,000 is applied. With a mill rate of 95 mills, what is the annual tax?
- A home sells for $275,000. The total commission is 6%, split equally between the listing broker and the buyer's broker. The listing agent earns 60% of their broker's share. How much does the listing agent earn?
- An Oklahoma property sells for $520,000 with seller concessions of 3%. What is the net amount the seller receives before other costs?
- A tenant in Tulsa signs a 3-year lease at $1,800/month with a 3% annual increase. What is the rent in year 3?
- A 6-unit building in Oklahoma City has an average rent of $925/month per unit. At 93% occupancy, what is the annual EGI?
- A buyer purchases a home for $185,000 with a 10% down payment. What is the loan amount?
- An Oklahoma property's sale price is $388,000. The seller pays the buyer 2% of the sale price in closing cost concessions. How much are the concessions?
- A 40-acre parcel of Oklahoma land sells for $1,200 per acre. The agent earns a 5% commission. What is the total commission?
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →