
Area calculations:
Rectangle: Length × Width
Triangle: Base × Height ÷ 2
Irregular lots: Break into rectangles and triangles, add areas
Price per square foot:
Price ÷ Square Feet = Price per SF
$450,000 ÷ 2,000 SF = $225/SF
Acres:
1 acre = 43,560 square feet
Square feet ÷ 43,560 = acres
Example: 87,120 SF ÷ 43,560 = 2 acres
Loan calculations:
Loan Amount = Purchase Price × (1 - Down Payment %)
$400,000 × 80% = $320,000 loan (20% down)
LTV (Loan-to-Value):
Loan Amount ÷ Appraised Value = LTV
$320,000 ÷ $400,000 = 80% LTV
Points: 1 point = 1% of the loan amount
2 points on $320,000 loan = $6,400
Monthly payment shortcut: Use tables or calculator. Know that principal + interest + taxes + insurance = PITI.
Reference:
TaskLoco™ — The Sticky Note GOAT