| Mortgage Loan Directory
includes home equity loan, home loan, auto loan, bad credit
personal loan, home equity loan rate, home equity loan
refinancing, student loan consolidation program, college
loan, school loan consolidation, debt consolidation loan,
loan calculator, small business loan, fast cash loan,
commercial loan, construction loan, home improvement loan.
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Loan to Value Ratio (LTV)
A ratio determined by dividing the sales price or appraised value into the loan amount, expressed as a percentage. For example, with a sales price of $100,000 and a mortgage loan of $80,000, your loan to value ratio would be 80%. Loans with an LTV over 80% may require Private Mortgage Insurance, defined below. |
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Lock or Lock In
A commitment you obtain from a lender assuring you a particular interest rate or feature for a definite time period. Provides protection should interest rates rise between the time you apply for a loan, acquire loan approval, and, subsequently, close the loan and receive the funds you have borrowed. |
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