what loan to value for refinance

interest rates on line of credit loans Line of Credit Home Loan rates | Westpac – Line of Credit Interest Rates Request a call back Request a call back Below is the applicable variable interest rate for the equity access loan and also the lower rates you’ll pay if you package your new loan under our optional home loan package, Premier Advantage Package .

Keep in mind that while an 80 percent loan-to-value ratio may seem like a magic number that’s necessary to refinance, many homeowners obtain a new loan with a much higher LTV ratio. That’s.

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What is the maximum loan-to-value for an FHA refinance loan? For non-streamline, appraisal-required FHA refinance loans that feature no cash back to the borrower, fha loans rules state that the maximum mortgage for a no cash out refinance with an appraisal (credit qualifying) "is the lesser of the 97.75% Loan-To-Value (LTV) factor applied to the appraised value of the property or existing debt."

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Maximum loan limits vary by county. Loan-to-value and cash-out restrictions apply. Ask for details about eligibility, documentation and other requirements. Bank of America offers VA refinance loans to existing Bank of america home loan clients only. back to content. Bank of America.

The Mortgage Loan To Value Ratio Combined loan to value ratio (CLTV) is the proportion of loans (secured by a property) in relation to its value. The term "combined loan to value" adds additional specificity to the basic loan to value which simply indicates the ratio between one primary loan and the property value.

A good loan-to-value depends on the type of mortgage or refinance loan you’re applying for. A prime LTV for a home loan is 80%. More than 80% and you may have to get private mortgage insurance.

So, if your home is worth $100,000 and your current home loan is $80,000, the LTV is $80,000 divided by $100,000, which is 80%. This 80% threshold is a common requirement for lenders to green light a refinance with the best terms and for pulling out cash. If you think it is easier to calculate equity, you can also use this to determine your LTV.

What If Your Loan-to-Value Ratio Is Too High. Having a high LTV ratio can affect a homebuyer in a couple of different ways. For one thing, if your LTV ratio is higher than 80% and you’re trying to get approved for a conventional mortgage, you’ll have to pay private mortgage insurance (PMI).

Like all VA loans, the program requires no mortgage insurance, even though any other loan type on the market requires it for loans with less than 20 percent equity. The VA cash-out loan is the only.