If the maximum loan-to-value ratio that a lender will accept on a $100,000 loan is 90...

If the maximum loan-to-value ratio that a lender will accept on a $100,000 loan is 90 percent, then the borrower must make

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Expert Solution

a minimum down payment of $10,000 plus closing costs.

since maximum loan to value ratio is 90%,

the amount that needs to be paid as down payment = loan amount *( 1 - loan to value ratio) + closing costs

=> $100,000*(1-0.90) + closing costs

=>$10,000 + closing costs

jeff jeffy answered 1 year ago

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