Finance
A Maryland property sells for $550,000. The buyer obtains an 80% LTV conventional loan. The loan amount is:
A$110,000
B$385,000
C$440,000✓ Correct
D$495,000
Explanation
Loan = $550,000 × 80% = $440,000. To solve this, multiply the relevant values: $550,000 at 80%.. The correct answer is $440,000.. This is a common calculation on the Maryland real estate exam.
Related Maryland Finance Questions
- Annual Percentage Rate (APR) on a Maryland mortgage is higher than the stated interest rate because:
- Under Regulation Z, a Maryland lender must give borrowers a right of rescission on which type of loan?
- In Maryland, 'points' paid to a lender at closing are also called:
- Maryland's Energy Efficient Mortgage (EEM) allows buyers to:
- A Maryland lender's 'lock-in' allows the buyer to:
- Under TRID, which of the following is a 'zero tolerance' fee that CANNOT increase from Loan Estimate to Closing Disclosure?
- Under RESPA, a lender must provide a Loan Estimate to a borrower within how many business days of receiving a loan application?
- Under the Community Reinvestment Act (CRA), Maryland banks and savings institutions are evaluated on their:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →