Real Estate Math
A home appraised at $350,000 and the buyer qualifies for a maximum LTV of 80%. How much must the buyer put down at minimum?
A$52,500
B$56,000
C$70,000✓ Correct
D$80,000
Explanation
Maximum loan = $350,000 × 80% = $280,000. Minimum down payment = $350,000 − $280,000 = $70,000. To solve this, multiply the relevant values: $350,000 at 80%.. The correct answer is $70,000.. This is a common calculation on the Idaho real estate exam.
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