Tuesday, December 3, 2024

Scott Bilker
Household Math™: LTV
by Scott Bilker
 
Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the founder of DebtSmart.com. More about and DebtSmart can be found in the online media kit.

Test your knowledge by trying to solve this DebtSmart, Household Math™ problem! After you complete the problem, you’ll get the solution and explanation.
 
1. A lender agreed to make a loan based on a purchase price of $250,000 with a 90% LTV. If the property appraises for $250,000, what is the mortgage amount?
$225,000
$180,000
$90,000
I don't know!



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