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.
Cannon Mortgage Company, Inc. | NMLS #123456
Equal Housing Opportunity.
This is not a commitment to lend. All loans are subject to credit approval and property appraisal.
Terms and conditions apply. Rates and programs are subject to change without notice.
Licensed in NC and SC.
For licensing information, visit www.nmlsconsumeraccess.org.
