Real Estate Math (alternative)
A Maryland investment property has an LTV of 75% and a purchase price of $600,000. The loan amount is:
A$150,000
B$460,000
C$450,000✓ Correct
D$510,000
Explanation
Loan = $600,000 × 75% = $450,000. To solve this, multiply the relevant values: $600,000 at 75%.. The correct answer is $450,000.. This is a common calculation on the Maryland real estate exam.
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