Finance
A Vermont property owner with a $200,000 mortgage balance has a home valued at $275,000. Their loan-to-value ratio (LTV) is approximately:
A55%
B62%
C73%✓ Correct
D80%
Explanation
LTV = Loan Balance ÷ Property Value = $200,000 ÷ $275,000 = 0.7273 = approximately 73%. LTV below 80% typically allows the borrower to avoid PMI on conventional loans.
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