For making the determination, loan providers calculate a combined loan-to-worthy of (CLTV) ratio
For making the determination, loan providers calculate a combined loan-to-worthy of (CLTV) ratio One to proportion procedures the value of all of the loans one to safe our home, along with first and you can next mortgages, contrary to the residence’s worthy of. Here’s an example. Assume you might be handling a bank offering a …