Real Estate Math
A buyer puts 20% down on a $400,000 home. The lender charges 2 points at closing. How much are the points in dollars?
A$6,400✓ Correct
B$8,000
C$1,600
D$3,200
Explanation
Loan amount = $400,000 × 80% = $320,000. Points are charged on the loan amount. 2 points = 2% × $320,000 = $6,400.
Related Texas Real Estate Math Questions
- A Texas property sold for $310,000. The buyer financed $248,000. What is the loan-to-value ratio?
- A Texas home under contract lists $3,200 in prorated property taxes at closing. If taxes for the full year are $7,680, how many days of the year has the seller owned the property until closing?
- A Texas landlord charges $1,500/month rent. The tenant pays a two-month security deposit. How much is the security deposit?
- A Texas homeowner receives a $100,000 homestead exemption on their $350,000 home. If the combined tax rate is $2.50 per $100, what is the annual tax bill?
- A buyer needs to borrow $240,000. Their lender quotes an annual interest rate of 6%. What is the monthly interest for the first payment (interest-only calculation)?
- A Texas property owner has a loan balance of $180,000. They sell the home for $290,000. After paying a 6% commission and $3,500 in closing costs, and paying off the loan, how much do they net?
- A Texas broker charges 7% on the first $100,000 and 4% on the balance of the sale price. If a property sells for $350,000, what is the total commission?
- A Texas commercial building has 8,000 SF. It is leased at $22/SF/year. The operating expense ratio is 35%. What is the NOI?
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →