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Jackson is buying a home for $412,000. his interest rate on the loan will be 4.75or 15 years. he will have a down payment of $16,480. what is the ltv on the loan?

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Answer:

96%

Explanation:

Value of the home: $412,000-Down Payment $16,480 = $395,520

Formula for LTV(Loan to Value Ratio): Loan Amount / Appraised Property Value

LTV: $395,520/$412,000 = 0.96 or 96%

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