Homebuying Smarts: What Do These Mortgage Terms Mean?
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.
Quikhome Mortgage Lending, LLC, 2063359,
Kristofer Nance, LLC, 2033980, (nmlsconsumeraccess.org)
Some services, including Real Estate and Insurance, are provided by Nance & Associates, Realtors & Union Insurance Agency Affiliated Companies.
The consumer is not required to use any particular provider or required to use an affiliated entity.
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