This is a quick and easy real estate equation you can plug in your two knowns, sales price and percentage profit, and come up with the original price. It’s not intended to be a full math walk-through but rather a quick and easy way to […]
If the mortgage loan is 80% of the appraised value of a house and the interest rate of 6% amounts to $460 for the first month, what is the appraised value of the house? In this episode of Spruce answers we have a difficult appraisal […]
“Using the services of a mortgage broker, a buyer borrowed $25,000 from a private lender. After the loan costs were deducted, the buyer received $24,255. What is the face value of the note?”
“If a house was sold for $360,000 and the buyer obtained a mortgage loan for $288,000, how much money would the buyer pay in discount points if the lender charged two points?”
How many acres are contained in the tract described as “beginning at the NW corner of the SW 1/4, then south along the west line to the SW corner of the section, then east along the south line of the section 2,640 feet, more or […]
If a farm described as “the NW 1/4 of the SE 1/4 of section 10, Township 2 North, Range 3 West of the 6th P.M.” sold for $4,500 an acre, what was the total sales price? Explained by Spruce School of Real Estate. The #1 […]