Considering LTV and LTC for private Loan

[Andrew Adamany]

Hey everyone, I have a question regarding LTV and LTC with Private Lenders:

When a Lender looks at both the LTV at the ARV number AND the LTC, are they going with the lower number of the two? For example:

Max LTV to qualify is 70%, and 90% for LTC

Purchase Price is $60k

Repair Cost is $40K

ARV is $150k

The max LTV would be $105 (more than the total cost) and the max LTC would be $90,000.

Am I correct to assume the lender would lend the $90,000?  I wanna make sure I'm not neglecting or misunderstanding something?

Thanks!