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Simple English definitions for legal terms

LTV ratio

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A quick definition of LTV ratio:

The LTV ratio is a number that shows how much money you borrowed for a mortgage compared to the value of the property you used as collateral. For example, if you borrowed $80,000 for a house worth $100,000, your LTV ratio would be 80%. This number is important because it helps lenders decide how much risk they are taking by lending you money. Generally, the higher the LTV ratio, the riskier the loan.

A more thorough explanation:

The LTV ratio, also known as 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 worth $100,000, the LTV ratio would be 80%. This is typically the highest ratio that lenders will allow without requiring the borrower to purchase mortgage insurance.

The LTV ratio is important because it helps lenders determine the risk of lending money to a borrower. A higher LTV ratio means there is a greater risk of the borrower defaulting on the loan.

Here is another example: If a person takes out a $200,000 mortgage loan on a property worth $250,000, the LTV ratio would be 80%.

Overall, the LTV ratio is a key factor in the mortgage lending process and can impact the terms and conditions of a loan.

REV. | luce clarius

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] 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
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