Real Estate Math
A Nevada property was purchased for $425,000. It later appraised at $380,000. What is the loan-to-value ratio if the buyer financed 90%?
A90%
B100.7%✓ Correct
C112.5%
D105.5%
Explanation
Loan amount = 90% x $425,000 = $382,500. Appraised value = $380,000.
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