Real Estate Math
A Washington borrower has a $325,000 balance on their mortgage. The property appraised for $500,000. What is the current LTV ratio?
A55%
B60%
C65%✓ Correct
D70%
Explanation
LTV = Loan Balance ÷ Appraised Value = $325,000 ÷ $500,000 = 0.65 = 65%. Using the values given ($325,000, $500,000), apply the appropriate formula.. The correct answer is 65%.. This is a common calculation on the Washington real estate exam.
Related Washington Real Estate Math Questions
- A commercial tenant in Bellevue has a 2,500 sq ft office with a monthly rent of $4.25 per square foot plus CAM charges of $0.85/sq ft/month. What is the tenant's total monthly rent obligation?
- A Washington property's gross rent multiplier (GRM) is 140 based on monthly rents. The property generates $3,800/month in rent. What is the indicated value?
- A Washington investor gets a 6% cap rate on a $925,000 property. Annual NOI is:
- A Washington buyer pays $522,500 for a home. The county assesses the property at 90% of purchase price for tax purposes. The millage rate is 12 mills. What is the annual property tax?
- A property was purchased for $320,000 five years ago. It has appreciated at 4% annually. What is the current estimated value? (Compound appreciation)
- A Washington homeowner refinances a $380,000 mortgage to a new $400,000 mortgage (cash-out refi). The new loan has a monthly P&I factor of $6.65/$1,000 at 7% for 30 years. What is the new monthly P&I payment?
- A Washington listing sold for $830,000 in 45 days. The home was listed at $875,000. What was the price reduction percentage?
- A property has a gross income of $180,000 per year. The GRM for similar properties is 10.5. What is the estimated property value using the GRM?
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →