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If we compare the value of the property with the amount of mortgage the number that we get is the loan-to-value ratio. It would be clearer if we cite an example. Like if you get an $80,000 mortgage for purchasing a $100,000 home then you get a loan where the loan-to-value ratio is 80%. There are lenders in California who make it possible to have 80 LTV hard money loans. So, it is prudent to contact them when you require such a loan, they will help you in all respect.
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When a business or agency refinances, it normally makes longer the maturity date. When a person alters their monthly payments or amends the rate of interest on their loans, it usually absorbs a penalty fee. When you refinance your credit, you are requesting for a new loan. By refinancing, you are essentially paying off the previous loan by acquiring a new one.
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