FREE Trial S
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what is the maximum size home equity loan that can be obtained on a home appraised at $160,000 and having a $100,000 existing first mortgage?

what is the maximum size home equity loan that can be obtained on a home appraised at $160,000 and having a $100,000 existing first mortgage?
assume the lender applies a maximum 80% loan to value ratio considering all loans in determining the allowable size of the home equity loan.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance For Growing Enterprises

Finance For Growing Enterprises

Authors: Edward W. Davis, Roger Buckland

1st Edition

ISBN: 1138679941, 978-1138679948

More Books

Students also viewed these Finance questions

Question

★★★★★
In this case, we review the debt of several restaurant companies. The restaurant companies reviewed and the year-end dates are as follows: 1. Yum Brands, Inc. (December 30, 2008; December 30, 2007)...

Answered: 1 week ago

Question

★★★★★
Cost-Based Pricing and Markups with Variable Costs Compu Services provides computerized inventory consulting. The office and computer expenses are $600,000 annually and are not assigned to specific...

Answered: 1 week ago

Question

★★★★★
8. You take $100 you had kept under your mattress and deposit it in your bank account. If this $100 stays in the banking system as reserves and if banks hold reserves equal to 10 percent of deposits,...

Answered: 1 week ago

Question

★★★★★
Sequoia Paper Products, Inc., manufactures boxed stationery for sale to specialty shops. Currently, the company is operating at 90 percent of capacity. A chain of drugstores has offered to buy 30,000...

Answered: 1 week ago

Question

★★★★★
Spot interest rates today look like this:

Answered: 1 week ago

Question

★★★★★
Grateful if you give accurate answers with explanation and working notes as well! I) Feliciano Mfg. produces beach seats. Seat diagrams are by and large a comparative size, yet can be created...

Answered: 1 week ago

Question

★★★★★
Solve Prob. 1-24 using appropriate software. Print out the entire solution, including the numerical results with proper units. Data From Problem 1-24: A 10-kg rock is thrown upward with a force of...

Answered: 1 week ago

Question

★★★★★
Air flows through a converging-diverging nozzle. The Mach number of airflow at the inlet of the nozzle is \(M_{1}=0.75\), and the air condition is that at sea level at the inlet. The Mach number of...

Answered: 1 week ago

Question

★★★★★
Use Table 1.1 to find the three most open economies in 2009, and the three most closed. How does the growth performance of these countries compare with the growth of the average country in the table?...

Answered: 1 week ago

Question

★★★★★
The project manager of the gas station project shown in Figure 7.3 needs to change the projects WBS so that it can be compared with cost and productivity information collected by the company. Level...

Answered: 1 week ago

Question

★★★★★
North Bank has a loan receivable from Westminster Publishing Company. Westminster is late making payments to the bank, and Richard Connelly, a North Bank vice president, is helping Westminster...

Answered: 1 week ago

Question

★★★★★
4-67. Writing: Crafting Unified, Coherent Paragraphs; Media Skills: Email [LO-5] Suppose that end-of-term frustrations have produced this email message to Professor Anne Brewer from a student who...

Answered: 1 week ago

Question

★★★★★
4-68. MEDIA SKILLS: WRITING FOR MOBILE DEVICES [LO-7] Find an interesting website article on any business topic. Write a three-paragraph summary that would be easy to read on a phone screen.

Answered: 1 week ago

Question

★★★★★
4-65. WRITING: CREATING PROFESSIONAL TONE [LO-3] Write the following message in three ways to create (1) a friendly, informal tone; (2) a neutral tone; and (3) a firm, formal tone. You are an...

Answered: 1 week ago

Previous QuestionNext Question