Real Estate Math
A buyer in South Dakota wants to purchase a $300,000 home with a 10% down payment. What is the loan-to-value ratio?
A10%
B80%
C90%✓ Correct
D100%
Explanation
LTV = Loan Amount ÷ Value = $270,000 ÷ $300,000 = 0.90 = 90%. To solve this, multiply the relevant values: $300,000 at 10%.. The correct answer is 90%.. This is a common calculation on the South Dakota real estate exam.
Related South Dakota Real Estate Math Questions
- A South Dakota property is purchased for $275,000. Two years later it sells for $310,000. What is the annual appreciation rate?
- A South Dakota property's value is $320,000. If the lender requires a maximum 80% LTV, what is the maximum loan amount?
- A South Dakota property earns $2,200/month gross rent. Operating expenses are $12,000/year. What is the annual NOI?
- In South Dakota, a $250,000 property has a 70% LTV loan. The buyer's down payment is:
- A property in Sioux Falls is assessed at $180,000. The tax rate is $15 per $1,000 of assessed value. What are the annual property taxes?
- A property sells for $285,000. The total commission rate is 6%. The listing agent and selling agent split the commission equally. How much does each agent's brokerage receive?
- A South Dakota investment property with a purchase price of $600,000 and an NOI of $54,000 has what cap rate?
- A South Dakota investment property has a purchase price of $400,000 and an annual NOI of $36,000. What is the cap rate?
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →