If the Maximum Loan-To-Value Ratio That a Lender Will Accept

If the maximum loan-to-value ratio that a lender will accept on a house costing $100,000 is 90 percent,then the borrower must make:

A) a minimum down payment of $10,000 plus closing costs.
B) a minimum down payment of $10,000 including closing costs .
C) a maximum down payment of $10,000 including closing costs and mortgage points.
D) a maximum down payment of $10,000.
E) a minimum down payment of $90,000 including closing costs.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free