Loan-to-value (LTV) in home loans is a number lenders use to determine how much risk they're taking on by financing a loan. It's expressed in a ratio and measures the relationship between the loan amount and the property's market value.
Amortization refers to the process of paying off the loan with regular monthly payments, gradually shifting from paying mostly interest to paying mostly principal.
Debt-to-Income ratio (DTI) is the percentage of your gross monthly income that goes towards payments for rent/mortgage, credit cards, or other debt.
Interest Rates Have Increased
Borrowers May Not Qualify
Due to DTI Calculation
Time To Consider
NO RATIO PROGRAM
No DTI calculation
No Income on Application
No Employment on Application
No Tax Returns
No W2s
No 1099
Only Required to Have
as low as 20% Down Payment
80% LTV = 720+ FICO - 12 Months Reserves
75% LTV = 680-719 FICO - 9 Months Reserves
65% LTV = 660-679 FICO - 9 Months Reserves
Funds for Down Payment
Closing Costs
Prepaid’s
Reserves
Primary Residence
Second Home
Purchase
Refinance
Minimum Loan $200,000
