Valuing and Financing Property; Calculations - WI Real Estate Exam || with Accurate Answers 100%.
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Course
Valuing and Financing Property; Calculations - WI
Institution
Valuing And Financing Property; Calculations - WI
How many square feet are in an acre? correct answers 43,560 square feet
How many feet in a mile? correct answers 5280
Loan to Value ratio correct answers LTV = (loan amount ÷ value) x 100
Transfer fee correct answers Transfer Fee = Purchase Price ÷ 100 x $.30
example $300,000 ÷ 100 =...
Valuing and Financing Property; Calculations - WI Real
Estate Exam || with Accurate Answers 100%.
How many square feet are in an acre? correct answers 43,560 square feet
How many feet in a mile? correct answers 5280
Loan to Value ratio correct answers LTV = (loan amount ÷ value) x 100
Transfer fee correct answers Transfer Fee = Purchase Price ÷ 100 x $.30
example $300,000 ÷ 100 = 3,000 x .30 = $900
Calculating Monthly Taxes correct answers Assessed value x tax rate = annual taxes ÷ 12 =
monthly taxes
Michael paid $385,000 for his home, which now has an assessed value of $392,000. His tax rate
is 0.51%. How much will his monthly taxes be?
Traditionally, lenders' qualifying mortgage rules use a range of percentages to qualify for both
the housing debt-to-income ratio and the total debt-to-income ratio. What are those ratio ranges?
25% to 28% for housing; 33% to 36% for total debt
25% to 28% for total debt; 33% to 36% for housing
25% to 33% for housing; 28% to 36% for total debt
25% to 33% for total debt; 28% to 36% for housing correct answers 25% to 28% for housing;
33% to 36% for total debt
Georgina is selling her Wisconsin home to Stanley at a price of $250,000. Stanley is financing
80% of the purchase. How much will the transfer fees be?
$150
$600
$750
$7,500 correct answers $750
Sandra retired from a career in the Navy and is ready to buy her first home, a small bungalow in
a quiet neighborhood, for $169,900. Her military service gives her the benefit of Veterans
Affairs (VA) loan. What's her required down payment?
, $0
$1,699
$2,548.50
$500 correct answers $0
In Wisconsin, how is a general property tax assessment calculated?
The assessor's assessed value of the individual property, multiplied by the jurisdiction's tax rate
The assessor's assessed value of the individual property, multiplied by the state's equalization
rate
The property's fair market value, multiplied by the jurisdiction's tax rate
The property's fair market value, multiplied by the state's equalization rate correct answers The
assessor's assessed value of the individual property, multiplied by the jurisdiction's tax rate
Ezra's listing sold for $100,000. His commission rate was 4%, and the property appraised at
$95,000. What's Ezra's commission before splits or sharing with the cooperating agent?
A buyer is purchasing a property for $500,000. He has a down payment of $50,000 and is
financing the rest. What's the amount of the loan origination fee if the lender charges one-and-a-
half points?
$5,000
$6,750
$750
$7,500 correct answers $6,750
Nico is buying a home for $625,000. His earnest money deposit is 8%. He wants to avoid private
mortgage insurance (PMI) on his conventional loan, and he owes 5% of the purchase price in
closing costs. How much money should he bring to closing?
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