iseeyou
Jun 19 2005, 08:38 PM
Can you get a LTV loan only on homes, buildings, etc. or can they also be used for purchasing Land...(LTV = loan to value.)
Commercial LO
Jun 20 2005, 08:23 AM
Both commercial and residential land loans are available. Yes they are partially based on the value of the land. generally 50-70% of its value. Value on a refinance is determined by an appraisal, where the value on a purchase will be lesser of appraisal or purchase price.