You Have Purchased Your First Home for $100,000,and the Mortgage

question 69

Multiple Choice

You have purchased your first home for $100,000,and the mortgage lender tells you that you will need a down payment of $15,000 because it will only lend you 85% of the purchase price.This percentage is known as the ________.

• A) mortgage-ownership ratio
• B) loan-to-value ratio
• C) prime mortgage ratio
• D) tangible-asset ratio
• E) mortgage-to-price ratio

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Definitions:

Foreign Country

A nation or territory outside one's own country, subject to a different legal and cultural system.

Parasitoid Wasps

Insects that lay their eggs in or on the bodies of other insects; the larvae then feed on the host, typically leading to its death.

Cryptic Skipper

A term that could refer to a butterfly species within the family Hesperiidae, characterized by their secretive nature and fast, skipping flight patterns.