Finance
In Kentucky, lenders use which of the following to determine a property's value for lending purposes?
AThe seller's asking price
BThe lesser of the purchase price or the appraised value✓ Correct
CThe county PVA assessment
DThe MLS listing history
Explanation
Lenders use the lesser of the purchase price or the appraised value when determining the maximum loan amount, ensuring they do not lend more than the property is worth.
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