You have purchased your first home for $100,000,and the mortgage lender tells you that you will need a down payment of $15,000 because it will only lend you 85% of the purchase price.This percentage is known as the ________.

Question

Quizplus · Accepted Answer

B) Loan-to-value (LTV) is the percentage of an asset's market value that a lender is willing to finance when offering a loan. The LTV is 85 percent in the given scenario.

You Have Purchased Your First Home for $100,000,and the Mortgage