The maximum down payment is based on the lender's desired loan-to-value ratio.

Name: The maximum down payment is based on the lender's desired loan-to-value ratio.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The maximum down payment is not based on the lender's desired loan-to-value ratio. It is determined by the borrower's ability to pay and the amount of funds they are willing to put towards the purchase. The loan-to-value ratio is calculated based on the appraised value of the property and the amount of the loan being requested.

The Maximum Down Payment Is Based on the Lender's Desired