LTV = Loan Amount ÷ Property Value × 100
Most private lenders cap bridge loans at 70–75% LTV. DSCR loans typically go up to 80% LTV.
LTC = Loan Amount ÷ (Purchase Price + Rehab Costs) × 100
Fix & flip lenders typically allow up to 85–90% LTC. Ground-up construction lenders often cap at 80–85% LTC.
Min of: (Value × LTV%) and (NOI ÷ DSCR_min ÷ 12 ÷ payment factor)
The binding constraint is whichever limit is lower — LTV or DSCR. This is how lenders size DSCR rental loans.