Real Estate Math
A Hawaii property was purchased for $480,000 with a 30% down payment. What is the LTV ratio?
AA. 70%✓ Correct
BB. 30%
CC. 80%
DD. 60%
Explanation
Down payment = 30%, so loan = 70% of $480,000 = $336,000. LTV = $336,000 / $480,000 = 70%.
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