26.MATH CALCULATIONS

Betty grosses $15,600 per year in rental for an income property. The monthly mortgage payments are $827, yearly property taxes are $2,200 and the annual insurance premium is $900. If betty pays the property manager 10 percent of the gross, how much does the property manager earn in one year?

How many acres are contained in the following legal descriptions? Beginning at the northwest corner of Section 3 in a township, thence in a southwest direction to the northeast corner of Section 8 of the same township, thence east 2 miles, thence in a northwest direction to the point of beginning?

In the same township, what would be the shortest distance between sections five and thirty-two?

A developer sold her principle residence for 3,200,000. She purchased the home six years ago and paid 2,400,000. Assuming she made no improvements to the property, what is her taxable gain if she is single?

A military veteran wants to purchase a home for 150,000. The CRV (certificate of reasonable value) is for 147,000 and the owner will not take any less than 150,000. What are the options for the veteran?

A seller has agreed to a selling price of $475,000. The buyer’s lender demanded 1.50 points for an 80% loan. What amount did the buyer pay in loan points.

A loan consisting of an 80/20 ratio combination for a house with a sales price of $225,000, and a rate of 5% for the first mortgage, and a rate of 5.5% for the second mortgage, would have a first mortgage loan amount of:

A borrower applying for a loan has income generating from rental properties he owns. The properties rent for a total income netting $50,000. How much of the $50,000 can be considered as income when applying for a mortgage loan.

A 5 ¼ acre lot sells for .60 cents per square foot. What is the selling price?

A borrower gets a loan from National Bank for $220,000. The borrower buys his interest rate down 1/4% and has a 1% origination fee. What are the lender fees?

A Broker in California referred a buyer to another broker in Nevada. Their agreement stated that the broker in Nevada would pay a 25% referral to the broker in California if a sale took place. If the Nevada broker has a brokerage policy that all agents in the office have a 50/50 split on commissions earned. What commission would the referring broker in California receive if the Nevada agent has a contract with a sales price of $640,000 and the offered commission were 3%:

A condo was purchased in Las Vegas in a foreclosure auction for $190,000. The investor purchaser spent $15,000 in rehab costs and at closing has a $6,500. His net profit was $31,500. What is the beginning basis for this investor for tax reporting purposes:

A contract to purchase was accepted with the earnest money to be 3% of the sales price and then an additional 12% of the sale price to be deposited after the 15th day of escrow. If the sale price were $490,000, what amount would the buyer need to bring to close of escrow:

A family’s home has appreciated 22% since they bought it 9 years ago. It is being sold today for $455,400. What was the value when they bought it:

A homeowner bought a two story house for $315,000. She sold it for $309,000 after discovering that her health would prevent her from using stairs. As a percentage, what is her gain or loss?

A house costs $840,000 and the buyer in order to get a loan for the property must put up 25% down. This lender charges 1.5 discount points and 1 origination points. These points will cost the borrower how much?

A licensed buyer’s agent just received $8,400 in commission from the sale of home that was sold for $225,000. What was the agents commission rate:

A new homeowner just closed on her first home! She is excited and is keeping her settlement statement for her tax records. On her settlement statement it shows that she put 10% down which was equal to $21,900. It also shows she had paid $3,942 for two discount points. If her APR was 5.75%, what was her original interest rate on her loan before the points?

A property is currently valued at $245,000. The owner of the property paid $205,000 for it last year. What percentage has the property appreciated?

A recent listing came on the market for an industrial parcel of land. The property was measured 400 yards in the front x 600 yards deep. What is the total acreage of the property for sale:

A recent listing in the same area where you are going to list a home sold for $170,000. It was a rental that was rented for $900 per month. If the rental property you are going to list rents for $1100 and is in similar condition, area and size, what should it sell for:

A seller wants to net $235,000 after paying 6% in commissions and paying off the $85,000 on his current loan. What would the sales price be in order to accommodate this seller:

A small town bank is quoting a potential borrower that they can get a loan at 3% on a $300,000 purchase loan, but there are additional finance costs of $3300. What is the actual percentage rate (APR):

Agent Emily Bronte has under contract a commercial building for $184,000. The commission agreement with her and her broker Heathcliff is that she will be paid a 2% commission on the 1st $100,000 of the any contract, 3% on sales price from $100,000 – $150,000 and a 4% commission on the price of $150,000 and higher. What did she make if she has an 80/20 split with Heathcliff∶

Buyer Judith is getting a small loan on her new home for $45,000 at a rate of 5.5%. If her loan is interest only for the first 5 years then a balloon at the end of 5 years, what is Judith going to pay in interest if she has the loan for 22 months:

Carl Jr bought his home for $224,000 2 years ago and put 10% down and had a 90% loan to value mortgage. After 2 years, the principal had been paid down by $980 and the appraised value had risen by 7%. How much equity does Carl Jr have at the end of 2 years:

City of Industry California, has determined that all commercial buildings need to have a new address system put in place for emergencies. The special assessment is $1.12 for every linear foot of building in the city limits. If there are a total of 160,000,000 sq ft of commercial space and the average building has 94 linear front feet, what is the average assessment for each building:

Comp #1 sold for $150,000. Comp #1 is identical to the subject property in all aspects, except that Comp #1 has a fourth bedroom and a two car garage while the subject property does not. If an extra bedroom is worth $5,000 and a garage is worth $8500, what is the adjusted value of Comp #1?

Dudley Doright owns an 8 unit apartment complex. Rents are $900 a month per unit. An appraiser is hired to find the building value and has found the building has a cap rate of 13%. What would the appraised value be?

During a recent recession, the property values in a certain area decreased by 13% in one year. The current land has been valued at $130,000 and the improvements have been valued at $260,000. What was the value before the recession:

Escrow is closed for a sale on March 10th. The seller paid his taxes of $1400 upfront for the year and the insurance was also paid up front for $549.10. What is the seller expected to get back assuming there are 365 days in a year and day of close belongs to buyer?

How many sections are there in the standard township known as Tier 2 South and Range 11 West?

How many sections are there in the township T2S, R11W:

How many townships are in a 24-mile square?

Lender Lenny loaned Louis $9000. It was a note that earns Lender Lenny $300 per quarter. What is the annual percentage rate: