In this video, I explain what the LTV (Loan to Value) Ratio is, and give an easy-to-understand example. After watching this video, you should be able to confidently understand Loan to Value ratios.
➡️ LTV Ratio: measures your mortgage to the value of your property.
Example: If you want to buy a property for $1 million, and put down 20%, you will have an $800,000 mortgage. If you divide 800,000 by 1 million, you will get .80 or 80%. This percentage will then be your loan-to-value ratio.
The LTV Ratio will always be proportional to the amount of money you put down initially. ➡️ The actual percentage will always be determined by the property’s value and the amount of the first mortgage.
Why is the LTV Ratio important?: Lenders typically use this number to determine if you're eligible for a loan. The more money you put down, the better your rate will be.
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