Scan QR code or get instant email to install app
Question:
The loan-to-value ratio (LTV) is best described as ____
A
the ratio of the loan to the appraised value of the property.
explanation
The loan-to-value ratio (LTV) reflects the mortgage balance as a percentage of the mortgaged property’s fair market value (FMV). Lenders will loan against the sales price or the value of the property as determined by an appraisal, whichever is lower.
Take more free practice tests for otherReal Estate topics with our practice real estate exam now!
Related Information
Comments