Combined Loan-to-Value (CLTV) Calculator
The combined loan-to-value ratio is a key underwriting metric used by lenders when you apply for any additional credit secured by your home. It measures the total mortgage debt on a property relative to its current market value. Understanding your CLTV is essential before applying for a home equity loan or HELOC, as most lenders require a CLTV below 80-85% to qualify for the best rates. This calculator takes your home value, first mortgage balance, and any other secured loan balances, then computes your current CLTV and shows how much additional equity is available to borrow at your target CLTV limit.
CLTV formula
Total Debt = First Mortgage + Other Secured Loans
CLTV = Total Debt / Home Value x 100
Home Equity = Home Value - Total Debt
Max Borrowable = (Max CLTV% / 100 x Home Value) - Total Debt
Available Equity to Borrow = max(0, Max Borrowable)
Typical CLTV limits by loan type
- Conventional first mortgage: 97% LTV (no PMI) or 80% LTV (avoid PMI).
- Home equity loan (HELOC / 2nd mortgage): up to 80-85% CLTV at most lenders.
- Cash-out refinance: typically 80% LTV on the new loan balance.
- FHA loans: up to 96.5% LTV (but CLTV limits still apply for second liens).
- VA loans: no LTV limit for eligible veterans (VA backs up to 100% LTV).
CLTV: frequently asked questions
What is the combined loan-to-value ratio?
The combined loan-to-value (CLTV) ratio is the sum of all mortgage balances secured by a property divided by the property's appraised value, expressed as a percentage. For example, if you have a $200,000 first mortgage and a $50,000 home equity loan on a $300,000 home, your CLTV is 83.33%. Lenders use CLTV to assess risk when you apply for a second mortgage or HELOC.
How does CLTV differ from LTV?
Loan-to-value (LTV) considers only your primary mortgage balance relative to the property value. Combined loan-to-value (CLTV) includes all secured loans: first mortgage, home equity loans, and HELOCs. Lenders use CLTV when you apply for any additional credit secured by the property, since they need to know the total debt against the home.
What CLTV do lenders typically allow for a home equity loan?
Most lenders cap CLTV at 80-85% for home equity loans and HELOCs. Some lenders offer up to 90% CLTV, but these products typically carry higher rates and stricter qualification requirements. The available equity you can borrow is calculated as: Maximum CLTV x Home Value - All Existing Mortgage Balances.
Does PMI apply when CLTV exceeds 80%?
Private mortgage insurance (PMI) is typically required on the first mortgage when the LTV of that mortgage (not the CLTV) exceeds 80%. A second mortgage or HELOC that pushes the CLTV above 80% does not trigger PMI on the first mortgage, but second mortgage lenders may require their own insurance or charge higher rates when CLTV is elevated.
How do I calculate my available home equity?
Available equity to borrow = (Maximum CLTV percentage x Home Value) - (First Mortgage Balance + Other Secured Debts). For example: 80% x $300,000 = $240,000. If your first mortgage is $180,000, you could potentially access up to $60,000 in equity through a home equity loan or HELOC, subject to lender approval.
Official sources
- Consumer Financial Protection Bureau: What is a Loan-to-Value Ratio?
- Fannie Mae: Selling Guide - LTV and CLTV requirements.
Reviewed by the CalculatorHub team, edited by James Graham, 14 June 2026. See our methodology.