Real Estate Math
A Wyoming property has a market value of $600,000 and an LTV of 75%. What is the loan amount?
A$150,000✓ Correct
B$450,000
C$500,000
D$600,000
Explanation
Loan amount = Market value x LTV = $600,000 x 75% = $450,000. Down payment = $600,000 x 25% = $150,000.
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