please tell me - Posted by tg

Posted by James (FL) on July 08, 2003 at 16:57:33:

I am assuming that you are buying a home under market value. I believe what this means in your case is that the bank is willing to finance 100% of what your purchase price is, assuming that your purchase price is less than 75% Loan To Value (LTV) of the actual value of the home.

Home appraises for $100K
Your purchase price $75K
Your loan $75K.

100% purchase price
75% LTV

If this is not your situation then I apologize for wasting everyone’s time. I had to assume due to a lack of details =)


please tell me - Posted by tg

Posted by tg on July 08, 2003 at 15:20:21:

can someone tell me what it means when a bank gives you 100% of purchase with ltv of 75% can some one please tell me exactly what that means