Real Estate Math

A buyer makes a 15% down payment on a $420,000 Oregon home. What is the LTV ratio?

A85%✓ Correct

B75%

C80%

D15%

Explanation

Down payment = $420,000 × 0.15 = $63,000. Loan = $420,000 − $63,000 = $357,000. LTV = $357,000 ÷ $420,000 = 0.85 = 85%.

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