Real Estate Math
A Wisconsin buyer purchases a home for $325,000 with an FHA loan (3.5% down). The UFMIP (upfront mortgage insurance premium) is 1.75% of the base loan amount. What is the UFMIP?
A$5,369
B$5,469✓ Correct
C$5,569
D$5,669
Explanation
Down payment = $325,000 × 3.5% = $11,375.
Related Wisconsin Real Estate Math Questions
- A Wisconsin property owner wants to build a garage that costs $28,000. The appraiser estimates it will add $21,000 in value. This project illustrates the principle of:
- A Wisconsin home originally purchased for $200,000 is assessed at 80% of market value. The mill rate is 25 mills. What is the annual property tax?
- A Wisconsin property sold for $275,000. The seller paid $6,000 in closing costs and a 5.5% commission. What was the seller's net proceeds?
- A Wisconsin rectangular parcel contains 2.5 acres. At 43,560 sq ft/acre, how many square feet is the parcel?
- A Wisconsin investor wants a minimum 10% cap rate on a $375,000 property. What minimum annual NOI is required?
- A Wisconsin seller purchased a home for $175,000 and made $25,000 in improvements. The home sells for $240,000 with a 5% commission and $4,500 in other closing costs. What is the seller's net profit?
- A Wisconsin seller's property is assessed at $165,000 and the assessment ratio is 90% of market value. What is the estimated market value?
- A Wisconsin investor wants to achieve a 12% cash-on-cash return on a $120,000 down payment investment. What minimum annual cash flow is required?
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →