Question

Find the loan-to-value ratio for a home appraised at $583,620.00 that the buyer will purchase for $585,000.00. The buyer plans to make a down payment of $175,000.00.

Answer 1

Explanation:

Calculating your loan-to-value ratio

Current loan balance ÷ Current appraised value = LTV.

Example: You currently have a loan balance of $140,000 (you can find your loan balance on your monthly loan statement or online account). ...

$140,000 ÷ $200,000 = .70.

Current combined loan balance ÷ Current appraised value = CLTV.