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:

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