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What is Fannie Mae and Freddie Mac? April 28

Filed under Mortgage by Uncle M | 0 comments

The Federal National Mortgage Association (FNMA) NYSE: FNM, is commonly known as Fannie Mae and the Federal Home Loan Mortgage Corporation (FHLMC) NYSE: FRE, is commonly known as Freddie Mac.
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What is LTV? April 9

Filed under Mortgage by Uncle M | 0 comments

LTV stands for Loan To Value. LTV is nothing but a ratio of the loan to the actual value. In other words it is the ratio of the amount you borrow to the actual value of the property. So for example if you bought a home worth $200,000 and put $50,000 down and had the rest $150,000 as a loan/mortgage then the LTV is 150,000/200,000 = 0.75 or 75%. A 100% financing or no money down loan is a 100% LTV.

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