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Having a low LTV is definitely a key factor in obtaining a mortgage. Although lenders want to see low LTVs, there are mortgage loan programs for borrowers with high LTVs and even some that do not take LTV into account. Following are some loan programs for borrowers with a low LTV ratio who want to … Continue reading High LTV Mortgages
Home owners are required to pay Private Mortgage Insurance (PMI) if their LTV is above a certain amount. Borrowers who do not want to pay PMI will have to put at least 20% down on a home. FHA mortgage loans allow borrowers to have a 96.5% LTV, while the USDA and VA have loan programs … Continue reading Private Mortgage Insurance and LTV
When a borrower’s LTV is too high they are considered to be “upside down” on their home loan. This means the appraised value of their home is less than they owe on the mortgage. There are many special refinancing programs available for homeowners who are upside down on their mortgages. The most popular refinance option … Continue reading Mortgage Refinancing Options
When you are shopping for a mortgage you may become overwhelmed by foreign terms. Even though your lender and real estate agent will help you understand any unfamiliar financial terms, it’s nice to have a good understanding of the more important ones. This way you won’t need a translator when you hear financial jargon. If … Continue reading Choosing The Right Mortgage
The LTV (loan-to-value) ratio is calculated by dividing the appraised value of the home by the amount of the loan. This figure will be assessed during the underwriting process. As a general rule, borrowers who have lower LTV ratios pose less of a risk to the borrower, since they have more equity in their properties. … Continue reading Loan-To-Value Ratio
When you are shopping for a mortgage you may become overwhelmed by foreign terms. Even though your lender and real estate agent will help you understand any unfamiliar financial terms, it’s nice to have a good understanding of the more important ones. This way you won’t need a translator when you hear financial jargon. If … Continue reading Shopping For A Mortgage
Private mortgage insurance and LTV Home owners are required to pay Private Mortgage Insurance (PMI) if their LTV is above a certain amount. Borrowers who do not want to pay PMI will have to put at least 20% down on a home. FHA mortgage loans allow borrowers to have a 96.5% LTV, while the USDA … Continue reading Private Mortgage Insurance
