What is LTV?
Loan-to-Value ratio (LTV) is the mortgage amount divided by the property’s appraised value, expressed as a percentage. A $240,000 loan on a $300,000 home is 80% LTV. LTV drives down payment requirements, PMI/MIP, interest rate pricing, and program eligibility.
LTV at or below 80% typically avoids conventional PMI. FHA requires MIP for the life of the loan at LTVs above 90%.
down payment · PMI · appraisal · conventional
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