Real Estate Math
A Wisconsin property sells for $215,000. If the buyer gets a 90% LTV loan, what is the down payment?
A$19,350
B$21,500✓ Correct
C$25,000
D$28,000
Explanation
Loan = $215,000 × 90% = $193,500. Down payment = $215,000 − $193,500 = $21,500. To solve this, multiply the relevant values: $215,000 at 90%.. The correct answer is $21,500.. This is a common calculation on the Wisconsin real estate exam.
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