Ga Real Estate math formulasequations Flashcards

Ga Real Estate math formulas/equations Flashcards Property taxMarket value × assessment rate= assessment valueAssessment value × mill rate= annual tax Interest and principleLoan amount × interest rate %= annual interest paid Prepaid InterestDaily rate × number of days= prepaid interest prorate(This is paid in advance by the buyer at closing) Accrued interest prorationLoan balance × interest rate= annual interest Mill rate# of mills × .001=mill rate OR# of mills ÷ 1,000= mill rate LTVMortgage loan amount ÷ appraisal value= LTV Intangible tax$1.50 per $500Loan amount ÷ 500 × 1.50= intangible tax Loan amountSales price × LTV= loan amountSales price - LTV= downPayment Capitalization formulaIncome ÷ cap rate = value Discount pointsLoan amount × discount points= cost