General Mortgage KnowledgeQuestion 137 of 400
A borrower makes a 15% down payment on a purchase. What is the LTV of the resulting loan?
a.85%
b.15%
c.90%
d.80%
Explanation
LTV = 100% - down payment percentage = 100% - 15% = 85%. 15% is the down payment, not the LTV, and the others do not match.
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