Was rates of interest lower on property guarantee mortgage?
Loan-to-value (LTV) ratio: The mortgage-to-really worth ratio (LTV) was computed by isolating the debts up against your property (both your current home loan therefore the new home guarantee mortgage) from the property value your house, due to the fact determined by a keen appraiser. Eg, an excellent $350,000 home with $150,000 left towards mortgage would ...…