Real Estate Licensing New Jersey Real Estate Salesperson Exam - Topic 3 Question 17 Discussion

Actual exam question for Real Estate Licensing's New Jersey Real Estate Salesperson exam

Question #: 17
Topic #: 3

[All New Jersey Real Estate Salesperson Questions]

A buyer wants to purchase a home for $400,000 with a 15% down payment. The lender charges 1.5 points. How much money does the buyer need up front to make the purchase?

A$60,000

B$66,000

C$60,900

D$65,100

Show Suggested Answer

Suggested Answer: D

by Carlton at Jun 23, 2026, 12:43 AM

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Fernanda

9 hours ago

I believe the total upfront cost includes both the down payment and the points, so I think it might be closer to $66,000.

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Fidelia

6 days ago

I’m a bit confused about how to calculate the points. Is it based on the purchase price or the loan amount after the down payment?

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Fidelia

11 days ago

I remember doing a similar question where we had to calculate points. If the points are 1.5% of the loan amount, I think that adds a bit more to the upfront cost.

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Nilsa

16 days ago

I think the down payment is 15% of $400,000, which should be $60,000, but I’m not sure if I need to add the points to that.

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