There are to many definition about loan, but the main summary is The loan to value ratio (LTV) tells you how much of a property is being financed. It is a way to tell how much equity you have in a property.
For example, assume you buy a home worth $100,000. If your mortgage is for $80,000, then your loan to value ratio is 80% (because your loan of $80,000 is 80% of the home's total value).
For example, assume you buy a home worth $100,000. If your mortgage is for $80,000, then your loan to value ratio is 80% (because your loan of $80,000 is 80% of the home's total value).
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