Loan-to-Value (LTV)
LTV percent and PMI-required flag from loan amount and appraised / purchase value.
Example
You enter
- Loan amount ($) 320000
- Property value ($) 400000
You get
- LTV (percent) 80%
- PMI required? No
Details, formula, and sources
Bands per FNMA conforming convention.
LTV = loan_amount / value. Conventional conforming loans require PMI when LTV > 80%. Value is the lesser of appraised value or purchase price (FNMA Selling Guide).
FNMA Single-Family Selling Guide §B2-1.1-01 (current). FHA Handbook 4000.1 §II.A.2 (LTV caps; 96.5% maximum on purchase).
Free at selling-guide.fanniemae.com and hud.gov/program_offices/housing/sfh/handbook_4000-1.
Estimate. Lender governs final underwriting and rate / fee disclosure. Appraiser governs the appraised value. State law and the agency's program guidelines may impose stricter limits than the published thresholds.
Field names used by the API: loan_amount, value, ltv_percent, pmi_required
- Value basis user enters appraised value or purchase price; FNMA convention is the lesserFNMA Selling Guide
- PMI threshold LTV > 80% on conventional conformingFNMA / FHLMC convention; exact PMI rate is lender-set