Finance
A Kentucky buyer is purchasing a $220,000 home with a $44,000 down payment. What is the loan-to-value ratio?
A20%
B80%✓ Correct
C75%
D25%
Explanation
LTV = Loan amount / Property value. Loan amount = $220,000 minus $44,000 = $176,000. LTV = $176,000 / $220,000 = 0.80 = 80%. The buyer put 20% down, resulting in an 80% LTV.
Related Kentucky Finance Questions
- In Kentucky, a purchase money mortgage is:
- A Kentucky rural property buyer using a USDA guaranteed loan must meet income limits. The maximum household income allowed is:
- In Kentucky, a home equity line of credit (HELOC) is secured by:
- The annual percentage rate (APR) on a mortgage is typically higher than the stated interest rate because it includes:
- A Kentucky home's purchase price is $350,000. The buyer gets a conventional loan at 90% LTV. The lender requires PMI at 0.6% annually. What is the monthly PMI cost?
- A Kentucky 'stated income' loan, where the lender does not verify income documentation, is now largely:
- In Kentucky, a 'straight (term) loan' requires the borrower to:
- Regulation Z (Truth in Lending) in Kentucky provides borrowers the right to rescind (cancel) certain mortgage transactions within:
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →