Mortgage & Home · Glossary
Loan-to-value ratio (LTV)
Also called: LTV
Your loan balance divided by the home's value. It sets whether you pay mortgage insurance and affects your rate and refinancing options.
A $360,000 loan on a $400,000 home is 90% LTV. Conventional loans generally require private mortgage insurance above 80% LTV, and lenders often offer better rates at 80% or below.
LTV falls as you pay down principal and as the home's value rises. For PMI removal, federal rules use the home's original value, while lenders set their own rules for using a new appraisal.
Calculators that use this
Mortgage CalculatorMonthly payment, PITI, and full amortization schedule.Refinance CalculatorCompare your current mortgage to a new rate and term.House Affordability CalculatorHow much home you can afford based on income and debts.VA Loan CalculatorVA mortgage payment with the funding fee and no monthly mortgage insurance.
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Disclaimer: Definitions are general education, not financial, tax, or legal advice. Figures are for the 2026 tax year unless noted.