Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Get immediate and reliable solutions to your questions from a community of experienced experts on our Q&A platform. 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 choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.
