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ltv ratio

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Hoya08
Regular Contributor

Re: ltv ratio

Good info all around.  Another way of looking at it is: the bank will loan 95% of the MSRP, with the loan NOT to exceed $40,000 (to include TTL and negative equity).

 

The key factor is the  '15/'16 Mustang MSRP.  So... if:

 

1) The Mustang MSRP is $45k, 95% LTV is $42.7k.  The bank will lend $40k

 

If the negotiated sale price is $37k, then TTL and negative equity may be covered by the $40k loan, or minimze your down payment. 

 

 

2) The Mustang MSRP is $38k, 95% LTV is $36.1k.  The bank will lend you $36.1k

 

If the sale price is $37k, then you will require a down-payment to cover the loan and sale price difference, as well as TTL and negative equity.

Message 11 of 12
Anonymous
Not applicable

Re: ltv ratio

Thank you Hoya08 for the info.  Yeah my plan is to somehow get the whole loan with me being able to put the least amount possible down.

Message 12 of 12
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