Loan-to-Value Ratio

🏠Decoding Cottage Financing: Maximum LTV for Your Dream Retreat The allure of a cozy cottage retreat, a sanctuary amidst nature's embrace, beckons many. But when it comes to securing a mortgage for your dream haven, things can get a bit nuanced. While you might dream of year-round escapes, banks consider the practicalities of winter occupancy. 🏡 The maximum loan-to-value (LTV) ratio for cottage mortgages varies depending on whether the property is considered suitable for permanent living.🏡 If

(Policy Address 2024) Loan-to-value ratio for mortgages to be relaxed

So WTF is LVR? 🤔 Let’s break down Loan to Value Ratio and why it’s important! What is LVR? Your Loan to Value Ratio, or LVR, is a way banks measure the risk of lending you money. They divide the loan amount by the property’s value, then multiply that by 100 to get the LVR percentage. Example Time! Krish’s dream apartment: $500,000 Saved up for down payment: $100,000 (Go Krish! 🙌) Loan needed: $400,000 LVR Calculation: $400,000 / $500,000 x 100 = 80% A higher LVR means more risk for the lender,

Loan-To-Value Ratio (LTV) For Singapore Property in 2024: A Complete Guide