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have equity value in your home

LTV stands for: loan-to-value

Banks and other lenders will extend credit based upon a percentage of the estimated market value of your home.

That percentage of market value minus the amount you owe on your first mortgage (plus any 2nd or 3rd mortgages that you may have) becomes the maximum amount of credit that lenders will give you.

For Example:
Let's say that your home has an estimated market value of $250,000. The amount that you still owe on your first mortgage and any other liens is $100,000. The maximum amount you can borrow is calculated as follows:

 Estimated Market Value:  $250,000  $250,000
Percentage LTV:  70%  80%
Percentage of Market Value:  $175,000  $200,000
 Less Mortgage Debt:  $100,000  $100,000
 Equals Total Equity:  $75,000  $100,000
 Estimated Market Value:  $150,000  $150,000
Percentage LTV:  90%  100%
Percentage of Market Value:  $135,000  $150,000
 Less Mortgage Debt:  $100,000  $100,000
 Equals Total Equity:  $35,000  $50,000

 

 


Best Rates at 80%LTV

Lenders generally charge a higher rate of interest for higher percentages of LTV. That is why you will find in the market quoted rates of PRIME + 0% for LTV percentages of 80% or lower.

To get the best rate, keep your loan request at 80%LTV or lower.

Enter the estimated market value of your home: see market values page $
Enter the amount that you still owe on your home plus any 2nd or 3rd mortgages, if any: $
 
*
 
 
Percentage LTV
Your Percentage Market Value Total Amount
You Can Borrow
70% LTV $ $
80% LTV $ $
90% LTV $ $
100% LTV $ $
* Calculations are based upon the assumptions you entered. Please note that rounding errors can make a small difference in calculations. Your actual mortgage lending rate may vary depending on your credit quality and lender. The circumstances surrounding your credit and loan qualifications may result in different calculations.
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