FinanceCâu 86 / 120
A buyer purchases a home for $300,000 and makes a $60,000 down payment. What is the loan-to-value ratio?
a.70%
b.80%
c.20%
d.120%
Giải thích
The loan amount is $300,000 minus $60,000, or $240,000, and LTV equals $240,000 divided by $300,000, which is 0.80 or 80%. The $60,000 down payment represents 20% equity.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Foreclosure under a Texas deed of trust with a power-of-sale clause is often carried out through:
- A borrower's ability to reclaim the property by paying the full debt before a foreclosure sale is known as the:
- In a mortgage assumption, the buyer:
- The loan-to-value (LTV) ratio is calculated as the:
- 'Usury' laws are designed to:
- The secondary mortgage market, including entities like Fannie Mae and Freddie Mac, primarily functions to:
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với Texas Real Estate Sales Agent Licensing Exam · Quy trình kiểm tra