Real Estate Math
A Wyoming buyer makes an offer on a $280,000 home. The lender requires a 20% down payment. What is the required loan-to-value ratio and loan amount?
ALTV = 80%; loan = $224,000✓ Correct
BLTV = 20%; loan = $56,000
CLTV = 80%; loan = $260,000
DLTV = 90%; loan = $252,000
Explanation
Down payment = $280,000 × 20% = $56,000. Loan amount = $280,000 − $56,000 = $224,000.
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