The short answer
Last updated: July 2026
For a current-value planning scenario, CLTV equals the first-mortgage balance plus closed-end junior-lien balances plus the drawn HELOC balance, divided by property value. Keep the HELOC credit limit separate: Fannie Mae distinguishes CLTV using drawn balance from an HCLTV-style measure using the line limit. Underwriting definitions and value rules can differ.
After the estimate:
Put the result into a reviewed workflowLeverage scenario
Calculate CLTV without hiding HELOC exposure.
Use the current drawn HELOC balance for the planning CLTV and keep the full line limit visible as a separate ratio.
Property value
$
First mortgage balance
$
Closed-end junior liens
$
HELOC drawn balance
$
HELOC credit limit
$
Input-driven result
Your inputs
Formula
Result below
Planning CLTV
67.5%
$270,000 of current entered debt
Full-line exposure ratio
90%
$360,000 using the HELOC limit
Property value entered
$400,000
Your calculation
($240,000 first + $20,000 junior + $10,000 drawn HELOC) ÷ $400,000 = 67.5%.
Estimate based on your inputs. Not a promise of results.
This is a user-input planning ratio, not lender underwriting or an appraisal. Program definitions, balance evidence, valuation rules, and maximums vary.
Read the CLTV definition
Plan a HELOC draw
How it works
How this tool works.
CLTV answers how much specified secured debt is stacked against a value denominator. Missing a junior lien or substituting the HELOC limit for its drawn balance can make the percentage misleading.
This is a planning calculator. A lender may require a different property value, unpaid balance, line treatment, or program terminology.
1
Enter the property value used for this planning scenario.
2
Add first-mortgage, closed-end junior-lien, and current drawn HELOC balances.
3
Optionally enter the HELOC line limit to see a separate full-line exposure ratio.
4
Verify current program definitions before using the result in underwriting or an offer.
Make the result useful
Separate drawn debt from available line exposure
A $100,000 HELOC limit with $10,000 drawn is not $100,000 of current principal debt. But the unused line can still matter to a program’s leverage measure and to the owner’s risk plan. Reporting both figures prevents a silent definition switch.
Property value is equally important. A rough current-value ratio is useful for planning, while a lender’s CLTV calculation can require a transaction-specific denominator and current verified balances.
The assumptions that move this result
Property value
Value chosen and labeled for this planning scenario.
First mortgage
Current first-lien balance entered by the user.
Closed-end junior liens
Outstanding balances on secured subordinate installment loans.
HELOC drawn balance
Current amount advanced and outstanding on the line.
HELOC limit
Total credit line, shown in a separate full-line exposure ratio.
Calculation lens
Planning CLTV = (first balance + closed-end junior balances + drawn HELOC balance) ÷ property value × 100.
A user-input leverage scenario, plus a separately labeled ratio using the HELOC line limit.
The tool does not determine property value, verify liens, apply a program’s denominator, calculate eligibility, or replace a lender’s underwriting.
Before you act
• Pull current statements for every secured lien.
• Record both HELOC drawn balance and line limit.
• Label the property-value source and date.
• Recalculate under the current named program definition.
Illustration
$240,000 first + $20,000 second + $10,000 drawn HELOC ÷ $400,000 value = 67.5% planning CLTV.
Questions landlords ask
Questions about this tool and its limits.
Does CLTV include a HELOC?
Yes, but Fannie Mae’s CLTV formula uses the drawn HELOC balance; its HCLTV measure accounts for the line limit. Keep both visible.
Which value should I enter?
Use a clearly labeled scenario value. A current underwriting program may prescribe a purchase-price, appraisal, or other denominator.
Is there one maximum CLTV?
No. Limits vary by current program, transaction, property, occupancy, product, and other eligibility factors.
Keep exploring
More tools for buy & finance.
Loan-to-value (LTV) calculator
Estimate loan-to-value and the down payment behind it.
Open tool →
HELOC draw and repayment planner
Test line availability, utilization, interest-only carry, and a modeled repayment payment after a planned HELOC draw.
Open tool →
Mortgage calculator
Estimate monthly principal & interest, total interest, and total paid.
Open tool →
Editorial ownership
Written and maintained by the Aptoria editorial team
Content updated August 3, 2026. Editorial method reviewed July 28, 2026. Aptoria reviews scope, source fit, examples, limitations, links, and publication gates. This record does not claim attorney, CPA, lender, appraiser, or other independent professional sign-off.
Primary and authoritative sources
CFPB Regulation C commentary: combined loan-to-value ratio ↗
Official definition of the combined loan-to-value ratio as total debt secured by the property divided by the property value relied on in the credit decision.
Fannie Mae Selling Guide: CLTV ratios ↗
Fannie Mae CLTV numerator treatment for first liens, drawn HELOC balances, and closed-end subordinate liens (guide checked August 3, 2026).
Freddie Mac: Maximum LTV, TLTV, and HTLTV requirements ↗
Freddie Mac program terminology and the need to check current transaction-specific limits rather than assume one universal cap.
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