Is this LTV Ratio correct?

[Thomas W.]

I'm looking at deals on Groundfloor just to help myself learn the numbers even better than I already do, but I've come across something I can't explain.

When I compare these two deals I see that the Berwyn property has a Loan to Value of 1.8%. That seems incredibly low–does this mean that they've paid off the original mortgage to a point where they own 98.2% of the home? and now they're looking to rehab and sell it using the $96,360 that's being raised through Groundfloor?