Finance
A New Mexico buyer puts 10% down on a $300,000 home. What is the loan-to-value ratio?
A10%
B75%
C90%✓ Correct
D100%
Explanation
A 10% down payment means the buyer is borrowing 90% of the purchase price. LTV = loan amount / property value = $270,000 / $300,000 = 90%.
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