Loan Advise on a possible flip

[Johanna Castel]

Hey everyone.

I am here evaluating a flip and I feel like I can use some guidance.

The property is an REO and listing price is $384,800, needs some love. I haven't seen the home but it needs some love. Not sure about major issues I'll find out when I go see it. I checked out comps in the area and prices are between 510k - 560k.
Now, I made a 1 min application with ICG10 Capital. Asking for full funding. I have no money. I looked up their rates and they are as follows:

Start Rate 8%

Start Points 2%

Max LTV 90% + Rehab

I am forever confused with the LTV term. Can someone help me understand? And does this rate sound reasonable? I am just trying to practice my numbers and maybe who knows I can make an offer on this property. I figure I should just take a chance.

Advise would be greatly appreciated.