A Newbie Question About Loan To Value Refinance

Greetings, BP!

I'm having trouble understanding LTV Refinance loans.

Let's say I have a 20-unit multifamily apartment that I rehabbed and brought up occupancy rates to the point where the appraised value is $5 million. Does that mean I have to put up 20% of my own money if a lender is ready to give 80 percent LTV? Should I just leave things alone?

and btw what is 110% LTV? do they give you 10% extra?