Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Experience the ease of finding reliable answers to your questions from a vast community of knowledgeable experts. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.
Sagot :
The purchase price or appraised value, whichever is lower, is the correct option when considering the loan-to-value ratio in mortgage lending
What does an 80% loan-to-value ratio mean?
The loan-to-value ratio means the percentage of the property worth that the borrower could receive as a loan from the financial institution, which means that the remaining percentage after deducting the loan-to-value ratio from 100% would be financed by the borrower, which serves as a way to avoid default.
Ordinarily, the loan-to-value ratio is applied to the lower of the selling price or the appraised value of the property, but note that a selling price to one party is the purchase price to another, hence, option d is correct
Find out more on the loan-to-value ratio on:https://brainly.com/question/4033785
#SPJ1
Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.
