Finance
In New York, the 'LTV ratio' for a jumbo loan is typically:
AHigher than for conforming loans, up to 97%
BLower (stricter) than for conforming loans, often 70-80% maximum✓ Correct
CNot applicable since jumbo loans have no LTV requirement
DSet by the DOS
Explanation
Jumbo loans (above the conforming loan limit) typically require stricter underwriting, including lower maximum LTV ratios (often 70-80% or less for high-value properties) compared to conforming loans, reflecting the greater risk to lenders outside the GSE guarantee framework.
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