ank's current maximum combined loan-to-value is 80%. Joseph is purchasing a home from Mr. and Mrs. Silva for $160,000. Joseph has $32,000 in cash for a down payment and the Silvas have negotiated a seller carryback loan in the amount of $28,000. What is the max

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A4) Finance Your bank's current maximum combined loan-to-value is 80%. Joseph is purchasing a home from Mr. and Mrs. Silva for $160,000. Joseph has $32,000 in cash for a down payment and the Silvas have negotiated a seller carryback loan in the amount of $28,000. What is the maximum allowable loan amount?
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