You Have a Home with a Market Value of $200,000

question 101

Multiple Choice

You have a home with a market value of $200,000. Your total equity in the home is $40,000. The maximum home equity loan available if the bank will loan 80% based on equity invested is

• A) $28,000.
• B) $32,000.
• C) $112,000.
• D) $128,000.