I saved $1,860 for a down payment on a house the government loan program requires 3% down payment of the loan amount what is the largest amount I could receive with this program

Question

Saved $1,860 for a house down payment. Loan program requires down payment equal to 3% of the loan. What the most I can receive

Answer 1

If $1860 represents 3% of the loan, then 100/3×1860=$62,000 represents the maximum cost of the house.