Loan-to-value ratio is used by lenders as one factor in determining whether to grant a loan. Loan-to-value ration means:
A) the ratio between the fair market value and the appraised value.
B) the ratio between the amount of the loan and the value of the loan to the lender.
C) the ratio between the loan amount and the sales price or the appraised value, whichever is lower.
D) the ratio between the loan amount at 80% and the loan amount at 90% of the sales price.
Correct Answer:
Verified
Q5: In an installment land contract:
A) the borrower
Q6: The promissory note:
A) states the amount borrowed
Q7: In mortgage documents, the provisions that apply
Q8: Uniform mortgage covenants might include which of
Q9: Loan origination happens in:
A) the primary mortgage
Q11: In a conventional mortgage:
A) the government does
Q12: A mortgage that allows the borrower to
Q13: The Federal Housing Administration (FHA):
A) guarantees that
Q14: A mortgage that starts with relatively low
Q15: The Federal National Mortgage Association (Fannie Mae):
A)
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