Real Estate Math
A Hawaii buyer puts 30% down on a $550,000 purchase. What is their loan-to-value ratio and loan amount?
AA. LTV 70%; Loan $385,000✓ Correct
BB. LTV 30%; Loan $165,000
CC. LTV 80%; Loan $440,000
DD. LTV 70%; Loan $370,000
Explanation
Down = 30% × $550,000 = $165,000. Loan = $550,000 - $165,000 = $385,000. LTV = $385,000 / $550,000 = 70%.
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