What Is Mortgage Ltv And Why Is It Important
The LTV of a mortgage refers to the amount you’re borrowing in relation to the value of the property. It’s expressed as a percentage figure and is directly related to the amount you’re able to put as a down payment (or, in the case of a refinance mortgage, the amount you have in equity). The higher the LTV, the higher risk you’re deemed to be, because the lender faces a greater loss should you be unable to repay the loan....