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1st Remaining Balance The balance on the first loan.
2nd Remaining Balance The balance on the second loan.
Balloon Payment Large payment that's usually due at the end of the payment schedule.
Face Value The value of the note at creation: Sales price minus the down payment, if in first position.
Loan to Value

70% in these examples:

 The Ratio between the total loans on the property and the property value.

Example #1. With a $100,000.00 property value, a 1st loan of $70,000 and no second loan the LTV would be 70%. $70,000 divided by $100,000 equals 70%.

Example #2. With a $100,000.00 property value, a 1st loan of $40,000 and a 2nd loan of $30,000 the LTV would be 70% ($40,000 + $30,000 = $70,000). $70,000 divided by $100,000 equals 70%.
Note Balance The amount remaining to be paid on the note.
SFR- Owner Occupied Single Family Residence as a home purchase.
   
SFR- Rental Single Family Residence as a rental.

Please make sure your numbers are correct by using the Mortgage Calculator.
 
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