Finance
A Louisiana lender is considering a loan on a property appraised at $250,000. The lender's maximum LTV is 80%. What is the maximum loan amount?
A$175,000
B$200,000✓ Correct
C$210,000
D$225,000
Explanation
Maximum loan = Appraised Value × LTV = $250,000 × 80% = $200,000. To solve this, multiply the relevant values: $250,000 at 80%..
Related Louisiana Finance Questions
- What is the purpose of RESPA (Real Estate Settlement Procedures Act)?
- In Louisiana, a mortgage lien is generally released from the public records by filing a:
- Private mortgage insurance (PMI) is typically required when the buyer's down payment is:
- In Louisiana, a 'seller-assisted down payment' arrangement where the seller contributes to the buyer's down payment has historically been:
- In Louisiana, a 'portfolio loan' is a mortgage that:
- In Louisiana, a 'vendor's privilege' (privilege du vendeur) is a type of:
- In Louisiana, the 'seller's disclosure of financing terms' in an installment sale (bond for deed) must include:
- In Louisiana, the 'right of rescission' under TILA allows a borrower to cancel a refinance mortgage on their primary residence within:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →