Real Estate Math
A New Mexico home sells for $425,000. The buyer puts 10% down. The loan-to-value ratio (LTV) is:
A10%
B80%
C90%✓ Correct
D100%
Explanation
LTV = Loan Amount / Appraised Value. Loan amount = $425,000 x 90% = $382,500. LTV = $382,500 / $425,000 = 90%.
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