Unit 24 Quiz Attempt#4

What’s 1 acre?

What’s 1 square mile?

You want to replace the crown molding in your living room. The cost of the new crown molding is $1.50 dollars per linear foot. You measured your living room and found that the room is 12 feet by 10 feet. What’s your total linear feet and how much will the new crown molding cost?

A property measured at 500 feet by 700 feet. The area’s average front footage value ois $275 per front foot. What is the property value?

Alex is looking to get a loan for a new condo. He earns a gross monthly income of $4,200 and a net income of $3,300. The lender Alex is working with is lenient and will fund loans at the high end of the housing debt-to-income ratio (28%). How large of a house payment can Alex afford to qualify for a loan?

A borrower takes out a loan of $150,000 on a home worth $200,000 (the remaining $50,000 was paid up front as a down payment), what’s their loan-to-value ratio.

What’s a “point”?

What is an annual Debt-to-service on a mortgage?

Under Georgia Law, how do you calculate assessed value?

How do you find millage rate?

12% to a decimal.

0.5564 to a fraction

52% of $62,000?

1 square foot in square inches?

What is 1 mile?

What’s 1 acre in feet?

How many acres are in 5miles

A property measured at 500 feet by 700 feet. The area’s average front footage value is $275 per front foot. What is the property value?

How many acres are in 2 miles

A borrower takes out a loan of $150,000 on a home worth $200,000 (the remaining $50,000 was paid up front as a down payment), what’s their loan-to-value ratio.

What’s a “point”?

What is an annual Debt-to-service on a mortgage?

How do you calculate the annual property tax?

Jake pays 4,250 a year in property taxes. He decides to sell the property to Mary. The sell closes August 5th. What is the proration?

You have a property listed at $130,000. The commission rate listed in the listing agreement is 6%, which you will split evenly with the buyer’s representative. What’s your share.