A lender determines that a homebuyer can afford to borrow $220,000 on a mortgage loan. The lender requires an 85% loan-to-value ratio. How much can the borrower pay for a property and still qualify for this loan amount (to the nearest $1,000) ?
A: $187,000
B: $243,000
C: $254,000
D: $259,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A lender determines that a homebuyer can afford to borrow $220,000 on a mortgage loan. The lender requires an 85% loan-to-value ratio. How ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is not an administrative burden of the US tax system? Select one: a. Government resources used to enforce tax laws. b. Paying the taxes owed. c. Time spent in April filling out forms. d. Keeping tax records throughout the year.
Answers (2)
All changes in account balances are not caused by transactions between the business and another business or individual. true false
Answers (1)
You have $ 400 and a bank is offering 4.0 % interest on deposits. If you deposit the money in the bank, how much will you have in one year?
Answers (1)
Formal analysis is the analytical approach primarily concerned with:
Answers (1)
George is developing a new employee schedule for his lawncare service due to the increase in business during the summer. While doing this, George is involved in organizing A. true B. False
Answers (1)
New Questions in Business
Which of the following should be added to net income in calculating net cash flow from operating activities using the indirect method? A. an increase in inventory B. a decrease in accounts payable C. preferred dividends declared and paid a D.
Answers (1)
What is opportunity cost? Question 14 options: The principal in an investment account The value of your investment opportunity when it's compared with all the other investments you made in the past.
Answers (1)
Omega Corp. has entered into a transaction with Lively Inc. Omega Corp will give its equipment to Lively Inc. in exchange for Lively's equipment. Omega Corp will also pay Lively Inc. $30,000 cash.
Answers (1)
Deployment Specialists pays a current (annual) dividend of $1.00 and is expected to grow at 20% for 2 years and then at 4% thereafter. If the required return for Deployment Specialists is 8.5%, what is the intrinsic value of its stock?
Answers (1)
a price ceiling is a. often imposed on markets in which ""cutthroat competition"" would prevail without a price ceiling. b. a legal maximum on the price at which a good can be sold. c.
Answers (1)