Mortgage · Combined loan-to-value
CLTV calculator.
Add every loan secured by the home and divide by its value. This shows LTV for the first mortgage, CLTV with second liens and drawn HELOC balances, and HCLTV counting each HELOC at its full credit limit.
CLTV = (first mortgage + drawn HELOC balances + closed-end second liens) ÷ the lesser of the sales price or the appraised value. HCLTV swaps the drawn HELOC balance for the full credit limit.
Inputs
Your ratios
Fill the form and press Calculate.
How the numbers are worked out
LTV = first mortgage ÷ property value. CLTV = (first mortgage + drawn portion of any HELOC + unpaid balance of all closed-end subordinate financing) ÷ property value. HCLTV = (first mortgage + the full amount of any HELOC, drawn or not + unpaid balance of closed-end subordinate financing) ÷ property value.
Property value is the lesser of the sales price or the appraised value. On a refinance there is no sales price, so the appraised value is used.
Rounding. The Selling Guide truncates the ratio to two decimals and then rounds up to the next whole percent (94.01% becomes 95%; 80.001% becomes 80%). The result panel shows the exact ratio and, beside it, that guide-rounded whole percent.
Example. Value $500,000, first mortgage $300,000, a $25,000 second and a HELOC with $20,000 drawn on a $50,000 limit: LTV 60%, CLTV (300,000 + 25,000 + 20,000) ÷ 500,000 = 69%, HCLTV (300,000 + 25,000 + 50,000) ÷ 500,000 = 75%.
Sources, read 30 September 2026, Fannie Mae Selling Guide: B2-1.2-01 Loan-to-Value (LTV) Ratios; B2-1.2-02 Combined Loan-to-Value (CLTV) Ratios; B2-1.2-03 Home Equity Combined Loan-to-Value (HCLTV) Ratios.
Frequently asked questions
What is the difference between LTV and CLTV?
LTV looks at the first mortgage only. CLTV adds every other loan secured by the same home, so it shows how much of the value is already borrowed against.
Why does HCLTV use the full HELOC limit?
Because the borrower can draw the whole line at any time. Counting the full limit shows the worst case for the lender, which is why the two ratios can differ a lot when a HELOC is barely used.
Which value do I use on a purchase?
The lesser of the sales price and the appraised value. If you paid less than it appraised for, your ratios are worked from the price.
What CLTV do I need to qualify?
This tool does not know. Maximum ratios depend on the lender, loan type, occupancy and property. It only calculates the ratio; it does not check any limit.
Estimate only — confirm with your lender
This tool applies the published Fannie Mae definitions to the figures you enter. Other investors, lenders, and Canadian lenders may define or cap these ratios differently. Nothing here is a loan approval or lending advice.