When making a loan, the lender would normally base the loan to value ratio on:
A. The listing price or sale price, whichever is lower.
B. The listing price or sale price, whichever is higher.
C. The appraisal value or sale price, whichever is lower.
D. The appraisal value or sale price, whichever is higher.
Answer: C. The appraisal value or sale price, whichever is lower.
Business
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