The Difference Between the Purchase Price of the Property and the Amount

question 2

Multiple Choice

The difference between the purchase price of the property and the amount borrowed is the borrower's ________. The LTV is the ratio of the amount of the loan to the market (or appraised) value of the ________. The ________, the greater the protection for the lender if the applicant defaults on the payments and the lender must repossess and sell the property.

• A) upfront; loan; lower this ratio
• B) down payment; property; lower this ratio
• C) down payment; property; higher this ratio
• D) upfront payment; loan; higher this ratio

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Definitions:

Class Action

A class action is a lawsuit filed by one or more plaintiffs on behalf of a larger group of people who are similarly affected, to address issues common to the entire class.

Physical Presence

The actual, bodily existence of a person or entity in a specific location at a given time.

Internet Sales

Refers to the process of buying and selling goods or services using the internet as the main medium of commerce.

State Taxes

Taxes imposed by individual U.S. states on income, property, sales, or other activities within their jurisdiction.