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Real Estate Math-13
Real Estate Math
Question | Answer |
---|---|
P=%xT | Part equals percent times total- a basic formula for real estate math |
Loan Factor | Monthly payment amount of principal and interest required to amortize a loan of $1000 based on the interest rate and term of the loan-loan amount divided by 1000 times the factor equals payment |
Debit | A debt at closing as shown on the closing statement |
Credit | Cash due at closing as shown on the statement |
LTV | Loan to value ratio-the percent of the price that the buyer is borrowing-high LTV means low down payment |