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A loan to value (LTV) ratio describes the size of a loan you take out compared to the value of the property securing the loan. Lenders and others use LTV’s to determine how risky a loan is. A higher LTV ratio suggests more risk because the assets behind the loan are less likely to pay off the loan as the LTV ratio increases.
What is the Loan to Value Ratio of my home? Calculator. The Loan to Value Ratio (LTV) shows how much equity you have in a house relative to the amount you want to borrow or already have borrowed, and is one of the key risk factors assessed by lenders.
The Loan to Value Ratio is commonly known by its acronym LTV. This loan to value ratio states the total value of the first mortgage against the full real estate property’s appraised value.The formula for figuring this ratio is simply the amount of the loan divided by the property value.
The ratio, known in the home-loan sector as the LTV, can make all the difference. expressed as a percentage of the purchase price – or as a percentage of the appraised value of the property, if.
Loan Amount Divided by Value. Divide the loan balance needed for your purchase or refinance by the estimated or appraised value of the home. For example, the equation for a $200,000 home purchase with a 20 percent down payment is: $160,000 / $200,000. The loan to value ratio is 0.8, or 80 percent LTV.
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Now that you know how to calculate your loan-to-value and combined loan-to-value ratios and how you can impact them, you can make more informed choices to help you reach your financial goals, whether you choose to borrow from the equity in your home, refinance or simply continue to pay down any current home loan balances.
That equates to a loan-to-value ratio of 80%, which is simply $160k divided by $200k. Now imagine the lender comes back and tells you that the property only appraised for $190,000. Your $160,000 loan amount based on the new $190,000 value would push the LTV to ~84%. And yes, lenders use the lower of the sales price or the current appraised value.