Posts tagged LTV
What Are the 97% LTV Loan Options?

If you’re looking to purchase a home and don’t have much cash on hand for a down payment, you might want to look into a 97% LTV loan. Fortunately, Fannie Mae’s Conventional 97 mortgage program offers such a loan -- and it’s a pretty great option for a lot of home buyers.

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What are 97% LTV Loans?

If you want to buy a home but have very little cash, Fannie Mae and Freddie Mac might have a solution for you. A 97% LTV loan allows you to make a down payment that’s as little as 3% of your home’s purchase price. That means these homes have an even smaller down payment requirement than FHA loans, which typically require at least 3.5% down.

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LTV: Loan to Value Ratio in Regards to Home Loans?

A loan-to-value (LTV) ratio is the ratio of a loan amount to the value of the asset it’s being used to purchase. Lenders often refer to a borrower’s LTV in order to assess the risk involved in entering a loan agreement with that borrower. The higher your LTV, the riskier the loan is for the lender. Generally speaking, LTVs of 80% and up are considered high. 

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