Ontario Mortgage Agent L2 Practice Questions - Ontario Mortgage Agent Level 2 Licensing Exam

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A client is applying for a private second mortgage for $100,000 on a property valued at $800,000. They currently have a first mortgage balance of $500,000. What is the total LTV (Loan-to-Value) for all encumbrances on the property?

75% 62.5% 80% 12.5%

Correct Answer:

75%

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