Calculate your loan-to value (LTV)
Your LTV is a figure that represents how much you still owe on your current mortgage expressed as a percentage. Here is a basic formula to use to find you LTV.
Current loan balance ÷ Current appraised value = LTV
Example: You currently have a loan balance(s) of $140,000 and your home appraises for $200,000. Your LTV ratio equation would look like this:
$140,000 ÷ $200,000 = .70
The LTV expressed as a percentage is 70%
*APR = Annual Percentage Rate
*HACU's Fall Gift Card Giveaway Promotion Disclosure: This promotion is only available for Home Equity Loans of $5,000 or more and Home Stretch Mortgage Refinances of $25,000 or more and must be secured by owner occupied real estate, in IL, IN, and MO. Property insurance is required. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral. No closing costs unless the loan is less than $25,000. Only HACU Home Equity Loans and Home Stretch Mortgage Refinances applied for, approved and later funded will be eligible to receive a Gift Card. Loans up to $24,999 will receive a $150 Gift Card; loans of $25,000-$49,999 will receive a $250 Gift Card; and loans of $50,000 and over will receive a $350 Gift Card. Consult your tax advisor regarding the deductibility of interest. Refer to hacu.org or call our loan department for additional information. Additional disclosures will be sent after application is received, please retain a copy for your records. Offer excludes all loans already financed at HACU. Only applications received from September 1 through October 31, 2017 and later approved and funded will be issued a gift card and/or promotional rates. Home Depot is a registered trademark of Home Depot Product Authority, LLC, and is not a sponsor of this promotion and is not affiliated with HealthCare Associates Credit Union, nor does it endorse, approve or have any responsibility for this promotion.