Exam term
Loan-to-value ratio
The loan amount divided by underwriting value, times 100. Purchase lending commonly uses the lower of purchase price or appraised value; a $240,000 loan on $300,000 of value is 80%.
Exam term
The loan amount divided by underwriting value, times 100. Purchase lending commonly uses the lower of purchase price or appraised value; a $240,000 loan on $300,000 of value is 80%.