Real Estate Math
A West Virginia investment property costs $400,000. The investor finances 75% with a loan. What is the required equity (down payment)?
A$75,000
B$100,000✓ Correct
C$120,000
D$80,000
Explanation
Loan = $400,000 x 0.75 = $300,000.
Related West Virginia Real Estate Math Questions
- A West Virginia buyer's loan has a principal balance of $160,000 at 5% annual interest. What is the interest portion of the first monthly payment?
- A West Virginia seller nets $178,000 after paying a 5% commission. What was the gross sale price?
- A West Virginia property's tax assessed value is $90,000. The tax rate is $2.50 per $100 of assessed value. What is the annual property tax?
- A West Virginia property earns $2,500 per month in rent. The property expenses (excluding debt service) are $900/month. The investor paid $240,000. What is the cash-on-cash return if they made a $48,000 down payment and the annual debt service is $12,000?
- A rectangular parcel in West Virginia measures 300 feet × 400 feet. How many acres is this? (1 acre = 43,560 sq ft)
- A West Virginia property has an assessed value of $180,000 (at 60% of market value). The millage rate is 28 mills. What is the annual tax?
- A West Virginia property sold for $225,000. Closing costs were $4,500. The broker's commission was 6%. The original purchase price was $175,000. What was the net gain to the seller (ignoring taxes)?
- A West Virginia commercial property sells for $480,000. The excise tax is $1.10 per $500. What is the total excise tax due?
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →