Finance
A home sells for $340,000 with a 15% down payment. What is the LTV ratio and loan amount?
ALTV 80%, Loan $272,000
BLTV 85%, Loan $289,000✓ Correct
CLTV 85%, Loan $289,000 (alternative)
DLTV 90%, Loan $306,000
Explanation
Down payment = $340,000 x 15% = $51,000. Loan amount = $340,000 - $51,000 = $289,000. LTV = $289,000 / $340,000 = 85%.
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