Question: Ann buys a house for $1,000,000. She gets a mortgage for $980,000 and pays the rest. What is Anns Loan to Value (LTV) ratio at

Ann buys a house for $1,000,000. She gets a mortgage for $980,000 and pays the rest. What is Anns Loan to Value (LTV) ratio at the time of purchase? How much home equity does she have?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

1. Round all dollar amounts to the nearest cent and dont enter the dollar sign. E.g. if the answer is $1,022.912, enter it as 1,022.91. Commas dont matter, hence you can also enter 1022.91. 2. Round...

1. Ann buys a house for $4,000,000. She gets a mortgage for $3,200,000 and pays the rest. What is Anns Loan to Value (LTV) ratio at the time of purchase? Write the answer as a percent so for example...

Ann buys a house for $1,200,000. She gets a mortgage for $980,000 and pays the rest. What is Ann's Loan to Value (LTV) ratio at the time of purchase? Write the answer as a percent so for example 2.5%...

answer question asap plz Ann buys a house for $3,200,000. She gets a mortgage for $2,400,000 and pays the rest in cash. 1. What is Ann's Loan to Value (LTV) ratio at the time of purchase? Write the...

Ann buys a house for $1,200,000. She gets a mortgage for $980,000 and pays the rest. What is Anns Loan to Value (LTV) ratio at the time of purchase? 98.12% 81.67% 98.67% 81.12%

Ann buys a house for $ 8 3 0 , 0 0 0 . She gets a mortgage for $ 6 3 0 , 0 0 0 and pays the rest. What is Ann s Loan to Value ( LTV ) ratio at the time of purchase? Write the answer as a percent...

Ann buys a house for $5,000,000. She gets a mortgage for $4,500,000 and pays the rest. What is Anns Loan to Value (LTV) ratio at the time of purchase? Write the answer as a percent so for example...

1. Smith buys a house for $600,000. She gets a mortgage for $450,000 and pays the rest with cash. What is Smiths Loan to Value (LTV) ratio at the time of purchase? Write the answer as a percent so...

PLEASE ENTER ANSWERS IN BLUE BOLD INK! Ann wants a mortgage to buy a house. Ann gives the following information to the bank: Income: $240k/year or 20k/month Average monthly debt: $2k Estimated...

Question 1 Bob buys a property with an 80% LTV interest only mortgage at an annual rate of 6%, with annual compounding and annual payments. Bobs annual cap rate for the first year is 8%. Which of the...

Do the generally shorter channels used to distribute services usually make it more or less complicated to design marketing channels? Why?

For all tasks below, you are MUST write SQL code in the SQL query view in MYSQL. Examine the following two relations which are part of a database for a company selling horse accessories. Product...

Assume four companies have the following return - on - assets ratios: Gamma Company = 5 % Alpha Company = 1 1 % Beta Company = 9 % Sigma Company = 6 % All other things being equal, which company...

Some latest study shows that college students are increasingly skimping on their sleep. A researcher from a small community college wants to estimate the mean weekdays sleep time of its students. He...

Organize and support your main points

Move smoothly from point to point

Outlining Your Speech?