Question: What does the term Loan to Value ( LTV ) refer to in the context of a secured loan? The ratio of the loan amount

What does the term "Loan to Value" (LTV) refer to in the context of a secured loan?
The ratio of the loan amount to the value of asset
The down payment required by the lender compared to the loan value
The amount of the loan compared to the borrower's income
The total amount of the loan compared to the interest rate
The interest rate charged on the loan compared to the loan amount
What does the term "Loan to Value" ( LTV ) refer

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