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

question 44

Multiple Choice

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.

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