A seller has a $200,000 mortgage and closing cost of $10,000. The seller will also pay a 5% commission to a licensee. What minimum listing price will net the seller $125,000?
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Q: A seller has a $200,000 mortgage and closing cost of $10,000. The seller will also pay a 5%…
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A: Computation:
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Q: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed…
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A: Brokers commission =5% of the purchase price = 5% * 180000 = 9000
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- A house is selling for $150,000. A deposit of $20,000 was made when the sales contract was signed. The down payment is 30% and the balance will be financed with a 25 year mortgage at 4.25% and 4 discount points. If the sellers are responsible for the broker’s commission (6% of the purchase price); $1700 in other closing costs; and the existing mortgage with a balance of $30,000; what proceeds will they receive on the sale of the property?A house is selling for $190,000 a deposit of $10,000 was made when sales contract was signed. The down payment is 25% and the balance will be financed wits 25 year mortgage at 9% and three discount points. If the sellers are responsible for the brokers commission of 6% of purchase price, $1,250 in other closing costs, and the existing mortgage, with a balance of $70,000, what proceeds will the sellers receive from the sale of the house? $118,750 $125,380 $107,350 $94,840A house is selling for $150,000 a deposit of $20,000 was made when sales contract was signed. The down payment is 30% and the balance will be financed with a 25 year mortgage at 4.25% and four discount points. If the sellers are responsible for the brokers commission of 6% of purchase price, $$1300 in other closing cost, and existing mortgage with balance of $40,000 what proceeds will the seller receive? $108,700 $99,700 $101,000 $69,450
- A house is selling for $180,000. A deposit of $10,000 was made when the sales contract was signed. The down payment is 25% and the balance will be financed with a 25-year mortgage at 8% and 3 discount points. If the sellers are responsible for the broker's commission (5% of the purchase price); $1,750 in other closing costs; and the existing mortgage with a balance of $50,000; what proceeds will they receive on the sale of the property? A. $109,750.00 B. $113,850.00 C. $119,250.00 D. $122,850.00if a buyer makes a 15% down payment and obtains a $120,000 mortgage what is the sales price of the property?You purchase a cottage for $185,000. You obtain a 30-year, fixed rate mortgage loan at 13.0% after paying a down payment of 30%. Of the second month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answers to the nearest cent.)Interest $________Applied to Principle $__________
- A lender is willing to offer an 70% LTV convertible mortgage to a borrower that is using it to purchase a $1.1m building. The convertible loan allows the lender to acquire 55% of the equity ownership in the property at the end of the fifth year. Property prices are expected to grow 3% annually. The loan is amortized over 20 years with monthly payments. and the loan interest rate is 6%. What is the effective yield of the loan? [EnterEagle Technologies currently has a $200,000 principal balance on an 8%, 20-year mortgage note payable. If Eagle makes semiannual mortgage payments, how large will the interest expense on its next payment be? $2,400 $800 $8,000 $16,000Assume a borrower is purchasing a property for USD 100,000and faces two possible loan alternatives. A lender is willingto make an 80% first mortgage loan, or USD 80,000, for 25years at 12% interest. The same lender is willing to lend 90%, or USD 90,000, for 25 years at 13%. Both loans will have afixed interest rates and CPM. How should the borrowercompare these two alternatives?.
- A house is sold with an assumable $156,000 below-market loan at 10% for a term of 15 years by a construction company. Current rates are 12% for 15 year mortgages. If the house in the market without any special financing is sold for $240,000, what is the cash-equivalent value of the house of the construction company? (Answer is rounded)The Ruffins are negotiating with two banks for a mortgage to buy a house selling for $115,000. The terms at bank A are a 20% down payment, an interest rate of 10.5%, a 30-year conventional mortgage, and 3 points to be paid at the time of closing. The terms at bank B are a 15% down payment, an interest rate of 10.0%, a 25-year conventional mortgage, and no points. Which loan should the Ruffins select in order for the total cost of the house to be less?The buyers paid $6,125 for a 1 point origination fee and a 1.5 discount point fee, what is the amount of their loan? If the buyers are obtaining an 80 percent LTV, what is the purchase price of their new home?