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Simple English definitions for legal terms

loan-to-value ratio

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A quick definition of loan-to-value ratio:

Loan-to-value ratio: This is a number that shows how much money you borrowed for a mortgage compared to how much your property is worth. For example, if you borrowed $80,000 for a property that is worth $100,000, your loan-to-value ratio is 80%. This number is important because it helps lenders decide how much risk they are taking by lending you money. If your loan-to-value ratio is too high, you may have to buy mortgage insurance.

A more thorough explanation:

The loan-to-value ratio is a percentage that represents the amount of a mortgage loan compared to the value of the property used as collateral for the loan.

For example, if a person takes out an $80,000 mortgage loan on a property that is worth $100,000, the loan-to-value ratio would be 80%. This is typically the highest ratio that lenders will allow without requiring the borrower to purchase mortgage insurance.

The loan-to-value ratio is important because it helps lenders determine the level of risk associated with a mortgage loan. A higher ratio means that the borrower has less equity in the property and is therefore more likely to default on the loan.

Another example of a loan-to-value ratio would be if a person took out a $200,000 mortgage loan on a property that is worth $250,000. In this case, the loan-to-value ratio would be 80% as well.

Overall, the loan-to-value ratio is an important factor to consider when applying for a mortgage loan, as it can affect the interest rate, loan terms, and overall affordability of the loan.

loan society | loan value

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[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
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