The mortgage world is full of acronyms.
FHA, PMI, LTV, DTI, HELOC, AMC,+ ARM, to name a few.. but why so many? The head honchos think that they are simplifying things, when in fact all it does is convolute it for the general public. This weeks topic is a prime example of this.
Have you ever been turned down for a loan because of the LTV on your property? At the time it probably didn't make any sense, when in fact, one fo the simplest math equations ever was used to determine the LTV. In an effort to not overcomplicate an issue that is truly very simple we will cut right to the chase for todays topic.
Reaching out to a local lender for up to date guidelines on any mortgage topic is always best as they are ever-changing. This week we…