Carson is purchasing a $600,000 property by obtaining an 80/20 loan.

An 80/20 loan structure means the borrower finances 80% of the purchase price through a first mortgage and 20% through a second mortgage, leaving no down payment.

For a $600,000 property:

80% × $600,000 = $480,000 (first loan)

20% × $600,000 = $120,000 (second loan)Total financing = $480,000 + $120,000 = $600,000.Therefore, Carson is financing $480,000 through the first loan, corresponding to the “80%” part referenced in the question’s options.