Loan-To-Value Ratio

alspeirs | 9:20 am | March 2, 2008 | finance

Are you tired of your current home and want to find a new one even though you are a homeowner and not a renter? The process of finding a new house is not necessarily as hard as you would initially think it would be. Packing causes more of a headache then all of the legal stuff. The first thing you should do before getting a loan is to determine what your Loan-To-Value Ratio is of your current home. You can find out what this is by discovering what the difference is between the amount of your current mortgage and the newly appraised value of your home. The answer is your ratio. The ratio will be figured into the loan terms of your second mortgage.