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Bob Hogue Formulas UPDATED ACTUAL Exam Questions and CORRECT Answers

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Bob Hogue Formulas UPDATED ACTUAL Exam Questions and CORRECT Answers Net Listing - CORRECT ANSWER for sellers net 100% - listing commission percentage = percentage Total sellers net / percentage for sellers net = desired sale price Loan-to-Value Ratio - CORRECT ANSWER to-Value Ratio Total Obligations Ratio - CORRECT ANSWER Loan amount / sale price(or value) = Loan Total monthly obligations (PITI+PMI+LTO) / Monthly gross income = Total Obligations Ratio (TOR)

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Bob Hogue Formulas UPDATED ACTUAL
Exam Questions and CORRECT Answers
Net Listing - CORRECT ANSWER 100% - listing commission percentage = percentage
for sellers net
Total sellers net / percentage for sellers net = desired sale price


Loan-to-Value Ratio - CORRECT ANSWER Loan amount / sale price(or value) = Loan-
to-Value Ratio


Total Obligations Ratio - CORRECT ANSWER Total monthly obligations
(PITI+PMI+LTO) / Monthly gross income = Total Obligations Ratio (TOR)


Amortizing a Mortgage - CORRECT ANSWER Step 1: principal balance X annual
interest / 12(months in year) = 1st months rent
Step 2: monthly mortgage payment - first months interest = payment on principal
Step 3: beginning principal balance - principal payment = new principal balance
(Repeat following steps for 2nd month and so on)


Calculated Interest Rate - CORRECT ANSWER Index + margin = calculated interest rate



Housing Expense Ratio (HER) - CORRECT ANSWER Monthly housing expenses
(PITI+MIP) / monthly gross income = housing expense ration (HER)


Sales Commission - CORRECT ANSWER Sale price X commission rate = total
commission
Total commission X percentage to listing broker = listing commission
Listing commission X listing sales associate percentage = listing sales associate commission

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