For the same property as above, suppose the underwriting criteria is a maximum loan/value ratio LTV) of 80%, and we estimate property value by direct capitalization using a rate of 8% on the stated NOI. By this criterion what is the maximum loan amount?
A) $8,000,000
B) $9,000,000
C) $10,000,000
D) $11,000,000
Correct Answer:
Verified
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