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A house for sale is listed at $310,000 and you manage to win the competitive bid with an offer of $312,000. The appraisal indicates the

A house for sale is listed at $310,000 and you manage to win the competitive bid with an offer of $312,000. The appraisal indicates the value at $295,000. What will be the conventional mortgage loan amount approved by the bank?

a.

$221,250

b.

$248,000

c.

$249,600

d.

$236,000

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