Real Estate MathCâu 108 / 120
A lender requires a loan-to-value (LTV) ratio of 80 percent on a home appraised at $300,000. What is the maximum loan amount?
a.$60,000
b.$375,000
c.$24,000
d.$240,000
Giải thích
The maximum loan equals value times the LTV ratio: $300,000 x 0.80 = $240,000. The borrower would need to cover the remaining $60,000 as a down payment. LTV compares the loan amount to the property's value.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
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