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Questions about hard money lenders LTV and down payments

Hello I am sill learning and doing research so forgive me if my question is a bit silly.

When using a hard money lender to purchase a long term rental property do you have to pay a down payment on the value of the loan or the purchase price of home?

Loan terms 80% LTV. Purchase price 100k

I assume given the numbers above I would get a loan of 80k and cover other 20k to purchase the home. Now here is where I am confused So is that 20k the actual down payment or do I have to cover that 20k plus another 20% on the loan itself?

The reason I ask is because of this video.
https://youtu.be/GICDUPAFtVo?t=527

submitted by /u/Endkeeper23
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/uc84hu/questions_about_hard_money_lenders_ltv_and_down/
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