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.
SI Home Loans is a licensed mortgage broker company operating in Florida and soon expanding to Colorado. All loan approvals and rates are based on individual credit qualifications and are subject to change without notice. This is not a commitment to lend. Equal Housing Opportunity. NMLS # 2460135
