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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Lending Value


Synonyms:loan value, mortgage lending value, mortgage loan, mortgage loan value
Filed Under: mortgages
Tags: mortgage
 

Definition of lending value

lending value
1. For mortgage purposes, this refers to the property value which is typically the lesser of the appraised value and the sale price.

Related Terms and Acronyms:

  • agreement of sale (AOS)   A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
  • appraised value   An educated opinion of how much a property is worth.
  • loan-to-value (LTV)   The ratio of the principal amount of the loan to the lesser of the purchase price of the property or the property's appraised value. This can be expressed as an 80% loan, or 80% LTV.
      ➥  A widely used term in the mortgage brokerage and lending industry, especially by mortgage underwriters.
  • monetary value   A property's monetary value is its worth if sold at this moment in time.
  • mortgage (mtg)   A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • principal   The original balance of money lent on an outstanding loan and fees, excluding interest. Also the remaining balance of a loan, excluding interest.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • purchase price   The total selling price of the home, including the cash down payment and the principal on the loan.
  • real estate (RE)   A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
  • sale price   The price that is paid for an asset.

More Related Terms and Acronyms

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