Finance
A Wisconsin buyer obtains an 80% LTV conventional loan on a $300,000 home. What is the down payment?
A$30,000
B$45,000
C$60,000✓ Correct
D$75,000
Explanation
80% LTV means the loan is 80% of $300,000 = $240,000. The down payment is $300,000 - $240,000 = $60,000.
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