UNO home loans
5th October 2022
What does the term LVR (Loan to Value Ratio) mean?
LVR is a percentage determined by dividing the value of your property by the value of your current or intended home loan. For example if your property Valuation was $1,000,000 and your Loan Value was $830,000 then your LVR would be 83%
Why is LVR important?
The LVR of your application and/or current loan will determine a range of things including
- The price/rate you pay, higher LVRs will mean higher interest rates
- Whether you pay LMI (lenders mortgage insurance) and how much it is
- How much equity you have available to use if you’re trying to take money out
- Whether you can be approved, for example an Investor typically won't be approved for a loan with an LVR greater than 90%
Learn more about LVR
If you want to better understand the term LVR or anything home loan related then the UNO Customer Care team can help, book in a time to chat using the link below
https://calendly.com/uno-customer-care/uno-quick-call
Further reading about home loan and property topics
Getting more educated on home loans and key topics within the property buying and ownership journey makes a lot of sense. We have created this set of guides to address the main topics that UNO customers typically want to learn more about
Guide to buying your first home
https://unohomeloans.com.au/first-home-buyer/
Guide to buying your next home
https://unohomeloans.com.au/buying-a-house/
Guide on buying an investment property
https://unohomeloans.com.au/investing/
Start Online Application
Ready to Purchase or Refinance right now, then start online using the links below
Online Application for Purchase
https://app.unohomeloans.com.au/new-loan
Online Application for Refinance
