Real Estate Math
A property is purchased for $480,000 with a 25% down payment. What is the loan-to-value ratio (LTV)?
AA. 25%
BB. 75%✓ Correct
CC. 80%
DD. 70%
Explanation
LTV = Loan Amount ÷ Property Value. Down payment = 25% × $480,000 = $120,000.
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