Free leverage scenario tool
Combined loan-to-value (CLTV) calculator
Combine first-mortgage, closed-end junior-lien, and drawn HELOC balances, while keeping the HELOC line limit visible as a separate exposure.
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.
Primary references on this page:
·
Fannie Mae Selling Guide: CLTV ratiosAfter the estimate:
Join the waitlistLeverage 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.
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.
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.
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.
Questions landlords ask
Questions about this tool and its limits.
Built by a landlord who's done every one of these jobs by hand.
Aptoria was built by an owner-operator managing a Brooklyn portfolio — the 11pm calls, the awkward rent texts, the April receipt-pile — not by a software team guessing at the problem.
Keep exploring