Real Estate Math
A Utah property is in a flood zone with required flood insurance of $2,400/year. Added to PITI of $2,100/month, what is the total monthly housing payment including flood insurance?
A$2,300✓ Correct
B$2,500
C$2,400
D$2,600
Explanation
Monthly flood insurance = $2,400 ÷ 12 = $200. Total PITIF = $2,100 + $200 = $2,300.
Related Utah Real Estate Math Questions
- A Utah property sold for $475,000. If the appreciation rate was 6% per year, what was it worth approximately 2 years ago?
- A property has a NOI of $48,000 and a cap rate of 6%. What is the estimated value using the income approach?
- A Utah commercial lease is 3,500 sq ft at $24/sq ft/year with annual 3% rent escalations. What is the rent in year 2?
- A seller receives $342,000 after paying a 6% commission and $3,800 in other closing costs. What was the sale price?
- A buyer obtains a $240,000 mortgage at 7% annual interest. What is the first month's interest payment?
- A buyer puts 5% down on a $395,000 home. How much is the down payment?
- A Utah buyer pays 20% down on a $520,000 home and finances the rest at 6.75% for 30 years. Using a factor of $6.49 per $1,000, what is the approximate monthly P&I payment?
- An investment property costs $600,000 and produces $54,000 in annual NOI. What is the cap rate?
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →