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Real Estate Licensing New Jersey Real Estate Salesperson Exam - Topic 3 Question 7 Discussion

Actual exam question for Real Estate Licensing's New Jersey Real Estate Salesperson exam
Question #: 7
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?

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Suggested Answer: D


by Ardella at Nov 21, 2025, 06:27 PM

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Trinidad
1 month ago
I’m leaning towards D) $65,100. Seems right with the points.
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Annalee
1 month ago
I agree with B) $66,000. It includes everything.
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Ligia
1 month ago
Definitely need to calculate the points. That's crucial!
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Anglea
2 months ago
The down payment is $60,000, but the points add more.
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Tesha
2 months ago
I feel like it's C) $60,900.
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Bok
2 months ago
I think it's B) $66,000.
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Deeann
2 months ago
Totally agree, it's $60k plus points!
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Genevieve
2 months ago
Wait, are points really that high? Sounds off.
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Moon
2 months ago
Don't forget the points! That's an extra cost.
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Gilma
3 months ago
15% down on $400k is $60k.
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Willard
3 months ago
C) $60,900 is the winner! Now, if only the lender would charge in Bitcoin, that would really seal the deal.
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Fletcher
3 months ago
B) $66,000 is the way to go. Although, I'm more interested in the home's feng shui than the financing details.
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Stephaine
4 months ago
D) $65,100 is way off, the math doesn't add up. This question is a piece of cake, anyone who gets it wrong should consider a different career path.
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Frederica
4 months ago
C) $60,900 is the correct answer. The 1.5 points on a $400,000 loan is $6,000, which added to the 15% down payment of $60,000 equals $66,000.
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Peggie
4 months ago
B) $66,000 seems right, 15% of $400,000 is $60,000 plus the 1.5 points which is $6,000.
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Maira
4 months ago
I feel like I need to double-check the math on the points. Is it 1.5% of the loan amount? That could change everything!
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Bettyann
4 months ago
The total upfront cost should include the points, right? I practiced a similar question, and I think it was around $66,000.
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Sanda
4 months ago
I think the down payment is $60,000, but I might be mixing it up with another question about closing costs.
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Tyisha
5 months ago
I'm pretty confident the answer is B) $66,000. The down payment is straightforward, and the points need to be added on top of that.
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Johnna
5 months ago
I got $60,900 by calculating the down payment and then adding 1.5 points on top of that. Not sure if that's right though.
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Kate
5 months ago
Okay, let's think this through. The down payment is 15% of $400,000, which is $60,000. Then we need to add the points, which is 1.5% of $400,000, so that's $6,000. So the total is $60,000 + $6,000 = $66,000.
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Kallie
5 months ago
I remember calculating down payments in class, but I'm not sure how to factor in the points.
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Lezlie
6 months ago
The total upfront is actually $66k with points included.
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Victor
6 months ago
Hmm, not sure how to handle the points. Do I need to add that to the down payment?
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Cheryll
6 months ago
This seems straightforward, just need to calculate the down payment and points.
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Augustine
20 days ago
Simple math, but easy to overlook the points.
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Yvette
26 days ago
So, total upfront is $66,000, right?
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Margart
5 months ago
Don't forget the points! That's $6,000.
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Veda
5 months ago
Down payment is $60,000.
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Lashawnda
6 months ago
Exactly, option B is the answer!
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