Real Estate Math
A Virginia buyer is taking a $275,000 loan at 6% for 30 years. The lender charges 2 points. What is the total upfront cost of the points?
A$4,125
B$5,500✓ Correct
C$5,250
D$2,750
Explanation
Points = 2% × $275,000 = $5,500. To solve this, multiply the relevant values: $275,000 at 6%..
Related Virginia Real Estate Math Questions
- A Virginia home sells for $750,000 with a 5.5% total commission. The buyer's broker receives 2.5%. What is the listing broker's commission?
- A Virginia apartment complex has 20 units, each renting for $1,100/month. The vacancy rate is 5%. What is the annual effective gross income?
- A Virginia salesperson earns a 2.8% co-op commission on a $525,000 sale. The broker takes 35% of the commission. What does the salesperson net?
- A buyer purchases a Virginia home for $400,000 with a 5% down payment. What is the loan amount?
- A Virginia leased property generates $5,000/month in rent. The NNN expenses are $1,500/month. What is the annual NOI?
- A Virginia transaction has these costs: appraisal $550, title search $400, settlement fee $750, recording fees $150. Total closing costs for these items are:
- A Virginia duplex produces $1,500/month from each unit. Annual operating expenses are $12,000. Using a 9% cap rate, what is the property's value?
- A Virginia buyer's total monthly housing payment (PITI) is $2,400. Their gross monthly income is $7,200. What is their front-end DTI ratio?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →