Real Estate Math
A Vermont buyer takes out a 90% mortgage on a $340,000 home. What is the loan amount?
A$296,000
B$306,000✓ Correct
C$316,000
D$326,000
Explanation
Loan amount = Purchase price × LTV = $340,000 × 90% = $306,000. To solve this, multiply the relevant values: $340,000 at 90%.. The correct answer is $306,000.. This is a common calculation on the Vermont real estate exam.
Related Vermont Real Estate Math Questions
- A Vermont property is assessed at $240,000, and the local tax rate is $1.85 per $100 of assessed value. What is the annual property tax?
- A Vermont listing contract specifies a 5.5% commission. The property sells for $385,000. The listing broker and buyer's broker split the commission equally. How much does each broker receive?
- A Vermont couple's combined gross monthly income is $9,200. The front-end housing ratio limit is 28%. What is the maximum monthly housing expense allowed?
- A Vermont buyer obtains a $300,000 mortgage at 7% for 30 years. Using a factor of $6.65 per $1,000, what is the approximate monthly payment?
- A Vermont listing agent's commission on a $750,000 commercial property is 4%. After splitting 50/50 with the cooperating broker, the listing agent earns 60% of the listing broker's share. How much does the listing agent earn?
- Using the cost approach, a Vermont building has a replacement cost of $320,000, land value of $80,000, and accrued depreciation of $48,000. What is the estimated value?
- A Vermont seller nets $318,250 after paying a 5% commission. What was the sale price?
- A Vermont property sells for $350,000. What is the total Property Transfer Tax owed?
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →