You apply for a home-equity loan. You have a first mortgage, with a current balance of $213,800. Based on an appraisal of $340,000 and a 75% LTV, what is the maximum line of credit you can get?
You apply for a home-equity loan. You have a first mortgage, with a current balance of $213,800. Based on an appraisal of $340,000 and a 75% LTV, what is the maximum line of credit you can get?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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![30. You apply for a home-equity loan. You have a first mortgage, with a
current balance of $213,800. Based on an appraisal of $340,000 and a
75% LTV, what is the maximum line of credit you can get?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd75f2ebc-d097-4d3a-a250-fc720ac1c07f%2F6711e4f7-2308-4923-9201-bd629a4b69f1%2Ftapid34_processed.jpeg&w=3840&q=75)
Transcribed Image Text:30. You apply for a home-equity loan. You have a first mortgage, with a
current balance of $213,800. Based on an appraisal of $340,000 and a
75% LTV, what is the maximum line of credit you can get?
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