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A House Sells for $102,000 and Is Appraised at $100,000

Question 54

Multiple Choice

A house sells for $102,000 and is appraised at $100,000 by a lender who is willing to make a 75% loan-to-value loan. How much down payment will this house require?


A) $25,500
B) $27,000
C) $75,000
D) $76,500

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