Financing
Combined loan-to-value (CLTV)
Combined loan-to-value compares the mortgage debt secured by a property—including the first lien and specified subordinate balances—with the applicable property-value denominator.
Glossary
Financing
What does CLTV mean?
Primary references on this page:
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Fannie Mae Selling Guide: LTV, CLTV, and HCLTV topicsFor a current-value planning scenario, divide the first-mortgage balance, closed-end junior-lien balance, and drawn HELOC balance by the property value. Under Fannie Mae’s guide, CLTV and the separate HCLTV calculation treat HELOC exposure differently; current underwriting can also prescribe a transaction-specific value denominator.
How combined loan-to-value (cltv) works
Identify every secured lien, separate a HELOC’s current drawn balance from its full credit limit, and state which property value is used. The Aptoria calculator reports a drawn-balance CLTV scenario and a separate full-line-limit scenario rather than silently substituting the line limit into CLTV.
Formula: planning CLTV = (first-mortgage balance + closed-end junior balance + drawn HELOC balance) ÷ property value × 100
Worked example
With a $240,000 first mortgage, $20,000 closed-end second, $10,000 drawn HELOC, and $400,000 value, the planning CLTV is 67.5%. A $50,000 HELOC limit creates a different full-line exposure and should be shown separately.
Common mistakes and review checks
Treat the result or document as one input to a decision. Verify the current source document, definitions, dates, and transaction facts before relying on it.
This is general educational information, not legal or tax advice. Rules vary by state and locality and change over time — check your local law and confirm specifics with a qualified professional.