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What is the Loan to Value (LTV)?

loan LTV value
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What is the Loan to Value (LTV)?

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The loan to value is the loan amount divided by the lessor of the sales price or the appraised value. Example: Loan amount is $80,000. The sales price is $100,000. The appraised value is $105,000. The lessor of sales price or appraised value is $100,000. $80,000/$100,000=80% LTV.

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