Finance
A Delaware first-time homebuyer receives a $15,000 down payment assistance grant from a state program. How does this affect their LTV ratio on a $200,000 home if they put the full $15,000 down?
ALTV = 90.5%
BLTV = 92.5%
CLTV = 87.5%✓ Correct
DLTV = 85.0%
Explanation
Loan = $200,000 − $15,000 = $185,000. LTV = $185,000 ÷ $200,000 = 92.
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