Real Estate Math
A buyer in Virginia pays 2.5 discount points on a $320,000 loan. What is the total cost of the points?
A$4,000
B$6,400
C$8,000✓ Correct
D$10,000
Explanation
Each discount point = 1% of the loan. 2.5 points = $320,000 × 2.5% = $8,000. Using the values given ($320,000), apply the appropriate formula.. The correct answer is $8,000.. This is a common calculation on the Virginia real estate exam.
Related Virginia Real Estate Math Questions
- A Virginia commercial tenant is in a 5-year lease at $3,500/month with 3% annual escalations. What is the monthly rent in year 3?
- A Virginia property has a gross potential rent of $72,000/year. After 6% vacancy and $25,000 operating expenses, what is the NOI?
- A Virginia property has a listed price of $385,000. A buyer makes an offer at 96% of list price. What is the offer price?
- A Virginia commercial lease has a CAM charge of $8 per sq ft per year for 3,500 sq ft. What is the monthly CAM charge?
- A Virginia buyer is pre-approved for a loan with a maximum monthly PITI of $2,800. If annual taxes are $3,600 and insurance is $1,200, what is the maximum monthly mortgage payment (P&I only)?
- A Virginia agent sold 18 homes in a year at an average price of $340,000 with a 3% buyer's agent commission. What was the agent's gross commission income?
- A Virginia property has an annual net operating income (NOI) of $36,000. If the capitalization rate is 8%, what is the property's estimated value?
- A Virginia property tax bill is $4,200 annually. Closing occurs on April 1. Using 365-day proration, how much does the seller owe the buyer as a property tax credit?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →