Real Estate Math Fundamentals
This worksheet covers fundamental real estate math concepts including property valuation, commission calculations, and loan amortization for Grade 12 students.
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Standards
Topics
Real Estate Math Fundamentals
Name:
Date:
Score:
Read each question carefully and provide the best answer. Show all your work where applicable.
1. A property is listed for $350,000. If the seller agrees to pay a 6% commission to the real estate agent, how much will the agent earn?
$18,000
$21,000
$24,000
$27,000
2. What is the loan-to-value (LTV) ratio for a property appraised at $400,000 with a mortgage of $320,000?
75%
80%
85%
90%
3. The principle of states that the value of a property is influenced by what comparable properties sell for in the market.
4. A is the amount of money a borrower pays to a lender in exchange for the use of the money.
5. A buyer is purchasing a home for $280,000. They make a down payment of 20%. Calculate the amount of the down payment and the mortgage loan amount.
Match each term on the left with its definition on the right.
6. Amortization
a. The gradual paying off of a debt over a period of time.
7. Equity
b. The difference between the market value of a property and the amount of money owed on its mortgage.
8. Appreciation
c. An increase in the value of an asset over time.
9. Property taxes are typically calculated as a percentage of the property's assessed value.
True
False
10. Closing costs are paid by the seller only.
True
False
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