Welcome to Joe Knows Mortgages MINUTE, where we answer your mortgage questions.
On this week’s Joe Knows Mortgages MINUTE, we answer the question:
What is loan to value?
You may hear your lender, your realtor, or maybe your insurance agent refer to your Loan To Value or LTV. The loan to value is the amount of money your are borrowing divided by the the value of the property. SO if you are borrowing $80,000 on a home that is worth $100,000, your loan to value would be 80%.
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