FinancingCâu 84 / 120
A buyer makes a $90,000 down payment on a $450,000 home and finances the rest. The loan-to-value ratio is:
a.20%
b.70%
c.75%
d.80%
Giải thích
The loan amount is $450,000 minus $90,000, which equals $360,000, and $360,000 / $450,000 equals 0.80, or 80 percent LTV. The down payment represents 20 percent equity. A 20 percent down payment often avoids private mortgage insurance on conventional loans.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A borrower pays $5,250 in discount points on a $350,000 loan. How many points did the borrower pay?
- A lender will make a loan at a maximum 75% LTV on a property appraised at $500,000. The largest loan available is:
- A borrower has a $240,000 interest-only loan at 6% annual interest. The monthly interest payment is:
- A clause in a loan that allows an existing lien to move to a lower priority position behind a new loan is a:
- A clause that allows a lender to declare the entire loan balance due immediately upon the borrower's default is an:
- A due-on-sale clause, also called an alienation clause, allows the lender to:
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với California DRE Real Estate Salesperson License Exam · Quy trình kiểm tra