Real Estate Math
A Vermont property is purchased for $275,000 with a 15% down payment. What is the LTV ratio at the time of purchase?
A75%
B80%
C85%✓ Correct
D90%
Explanation
Down payment = 15% x $275,000 = $41,250. Loan amount = $233,750. LTV = $233,750 / $275,000 = 85%. To solve this, multiply the relevant values: $275,000 at 15%.. The correct answer is 85%.. This is a common calculation on the Vermont real estate exam.
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