If a property is worth $750,000 and the borrower has a first mortgage of $227,000 and a second mortgage of $125,000, what is the LTV and CLTV?
A. 30/17
B. 30/47
C. 17/30
D. 47/30
Answer:B
If a property is worth $750,000 and the borrower has a first mortgage of $227,000 and a second mortgage of $125,000, what is the LTV and CLTV?
A. 30/17 B. 30/47 C. 17/30 D. 47/30