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.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.

Get Your
FREE eBOOK

First time home buyer book

First Time Home Buyers Guide

By providing your phone number and/or email address you agree to receive updates, offers, and other promotional and marketing communications from First Equity Home Loan, Inc. This may include calls or text messages sent to your mobile device via an automated telephone dialing system if you elect to provide your cell phone number to us as a point of contact. Please note: Standard data and messaging rates may apply. By clicking "Submit" you agree to these contracts as well as to our Terms of Service and Privacy Policy

Begin your home loan process today!

Local Loan
Consultations

Timely and Accurate
Communication

Industry-Leading
Product-Selection

The right tools to help you every step of the way