Real Estate Math
A South Dakota property's value is $320,000. If the lender requires a maximum 80% LTV, what is the maximum loan amount?
A$240,000
B$256,000✓ Correct
C$280,000
D$300,000
Explanation
Maximum loan amount = Property Value × Maximum LTV = $320,000 × 80% = $256,000. To solve this, multiply the relevant values: $320,000 at 80%..
Related South Dakota Real Estate Math Questions
- 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 commercial property generates $7,500/month in rent. Annual expenses are $36,000. What is the annual NOI?
- A South Dakota property was purchased 5 years ago for $200,000. It has appreciated at an average annual rate of 4%. What is the current value?
- A South Dakota buyer's offer is $345,000 for a property appraised at $330,000. The lender will loan 80% of the appraised value. How much will the buyer need in cash at closing (down payment + gap)?
- A South Dakota property generates monthly rents of $2,200. Annual operating expenses are $8,400. What is the annual net operating income (NOI)?
- In South Dakota, a 40-acre parcel (1/16 section) priced at $320,000. What is the price per acre?
- A South Dakota rectangular commercial lot is 200 feet wide by 300 feet deep. What is the lot area in square feet?
- A South Dakota seller nets $187,500 after paying a 6.5% commission. What was the original sale price?
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 →