Real Estate Math
A Wyoming buyer takes out a $180,000 mortgage. The lender charges 2 discount points at closing. What is the total cost of the discount points?
A$1,800
B$3,600✓ Correct
C$360
D$9,000
Explanation
Each point = 1% of the loan amount. 2 points = 2% × $180,000 = $3,600. Using the values given ($180,000), apply the appropriate formula.. The correct answer is $3,600.. This is a common calculation on the Wyoming real estate exam.
Related Wyoming Real Estate Math Questions
- A Wyoming property has a market value of $600,000 and an LTV of 75%. What is the loan amount?
- A Wyoming property has an NOI of $45,000 and the buyer wants a 9% cap rate. What is the maximum price the buyer should pay?
- A Wyoming broker wants to earn at least $8,500 on the listing side of a transaction. The property is expected to sell for $425,000 and the total commission is split 50/50 between listing and selling brokers. What minimum commission rate is required?
- A Wyoming commercial property has a net operating income of $72,000 per year. Using a cap rate of 8%, what is the estimated value of the property?
- A Wyoming seller's net proceeds after a 6% commission on a $390,000 sale are:
- A Wyoming buyer obtains a 30-year fixed mortgage for $175,000 at 6.5% annual interest. Using the factor of $6.32 per $1,000 borrowed, what is the approximate monthly principal and interest payment?
- A Wyoming home is assessed at 9.5% of market value for property tax purposes. If the market value is $420,000 and the mill rate is 55 mills, what is the annual property tax?
- A Wyoming investor needs a 12% return on investment. The projected annual NOI for a property is $54,000. What is the maximum price the investor should pay?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →