Real Estate Math
A West Virginia buyer puts 5% down on a $220,000 purchase. What is the loan-to-value (LTV) ratio?
A90%
B92%
C95%✓ Correct
D97%
Explanation
Down payment = $220,000 × 5% = $11,000. Loan amount = $220,000 - $11,000 = $209,000. LTV = $209,000 ÷ $220,000 ≈ 95%.
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