What Is Loan-to-Value (LTV)?

Answer

Loan-to-value is the loan amount divided by the property’s value or price, shown as a percent. A $7,000,000 loan on a $10,000,000 property is 70% LTV. It measures leverage — lower LTV means more equity cushion and less risk if values decline.

Higher LTV amplifies both returns and risk. Lenders cap LTV (commonly 65–75% for value-add multifamily) and pair it with a debt service coverage ratio test. EagleCap favors moderate leverage so a deal can weather a downturn without a forced sale or capital call.

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