10% down on a $220,000 home means a loan of:
Correct Answer
B) $198,000
Down payment = $220,000 × 0.10 = $22,000. Loan = $220,000 - $22,000 = $198,000.
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Related Topics & Key Terms
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Related Concepts
The capitalization rate (cap rate) is the ratio of a property's net operating income to its sale price, expressed as a percentage. It is used to estimate value and compare profitability of investment properties. Cap Rate = NOI / Value.
The capitalization rate (Cap Rate) is the rate of return on a real estate investment based on its expected income.
Commission splits refer to the division of the total real estate commission among the listing and selling brokerages, and then between each broker and their respective agents. Commission rates and splits are always negotiable.
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