Real Estate Salesperson License Exam
Financing Practice Questions
1 practice questions with detailed explanations — aligned to the Real Estate Salesperson License Exam.
Q1.A borrower obtains a $320,000 loan on a property appraised at $400,000. What is the loan-to-value (LTV) ratio?
A.75%B.80%C.85%D.125%B. 80%Explanation: LTV = Loan Amount / Property Value = $320,000 / $400,000 = 0.80 or 80%. Lenders use LTV to assess risk; loans above 80% LTV typically require private mortgage insurance (PMI).
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