24. Loan-to-value is equal to mortgage amount divided by gross monthly income of borrower. A) True B) False 25. Loan-to-value is an often-used ratio in mortgage lending. A home with a purchase price of $200,000 and a total mortgage loan for $180,000 results in a LTV ratio of A) 80%. B) 90% C) 91% D) 0.90% 26. An adjustable-rate mortgage is a type of mortgage in which the interest rate applied on the outstanding balance throughout the life of the loan. A) remains the same B) varies C) increases D) decreases