Personal debt consolidating mortgage

Your loan's LTV is simply the percentage of the property that carries a mortgage.

You can calculate your LTV by diving the property's appraised value by the amount you plan to borrow.

Your lender also reviews your current debts – including your new mortgage payment – and compares them to your income to determine whether or not you can actually afford the new loan.

Banks' policies differ, but most will not let you exceed an LTV of 80 percent on your new mortgage – regardless of whether or not that mortgage includes additional debt.

There is no guarantee that the home you want to buy will fall into the proper LTV range.

The lower a home's price is when compared to its fair market value, the better your odds of achieving the LTV you need.

When you begin house shopping, consider looking for foreclosures.

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