Finance category
Mortgage, loan, investing, tax, and money calculators.
Loan-to-Value (LTV) Calculator
Calculate LTV and combined LTV across all liens. LTV drives PMI, cash-out refi limits, second-lien pricing, and most other mortgage gates.
Property and debt
Loan-to-Value (LTV)
68.9%
first lien / value
Combined LTV (CLTV)
68.9%
all liens / value
Equity
$140,000
31.1% of value
Borrowing headroom
$50,000
to 80% CLTV ceiling
Reading the number
Below 80% LTV is the standard PMI-free zone. You typically have access to cash-out refis and second-lien products at competitive pricing.
Use the headroom number to see how much additional debt the property could support before hitting the lender's CLTV ceiling.
EveryCalc calculators are designed for fast, practical estimates with transparent inputs and no required account. We use plain formulas, visible assumptions, and related tools so visitors can check the result from more than one angle.
Results are informational only. For financial, tax, legal, medical, construction, or other high-impact decisions, verify the output against primary sources or a qualified professional.
Learn more about our review process on the EveryCalc methodology page.
Calculation notes and example
LTV formula used here
Loan-to-value equals loan balance ÷ property value. Combined LTV adds junior liens, such as HELOC balances, before dividing by value. Equity percentage is the inverse: 1 - LTV. Lenders use LTV and CLTV to price risk, set mortgage insurance rules, decide refinance eligibility, and cap how much additional borrowing a property can support.
Worked example
If a home is worth $600,000 and the first mortgage balance is $420,000, LTV is 70%. Add a $45,000 HELOC and combined LTV becomes 77.5%. If a lender caps CLTV at 85%, the borrower has about $45,000 of additional borrowing headroom before hitting that ceiling. Pair this with the HELOC calculator when deciding whether equity borrowing is realistic.
Edge cases and practical tips
- Use a conservative property value if the appraisal is uncertain.
- CLTV matters when second liens or home equity lines are involved.
- A small value decline can push high-LTV loans into mortgage insurance or refinance problems.
Useful companion tools: HELOC Calculator, Mortgage Calculator, Down Payment Calculator, and Refinance Calculator.
How to interpret the loan-to-value (ltv) result
Best use
Use the result as a planning number for comparing payments, rates, returns, tax reserves, or cash-flow choices before you request a quote or make a commitment.
Cross-check
Compare the answer with the contract, lender estimate, tax form, brokerage statement, payroll record, or invoice that will control the real-world outcome.
Watch for
Do not rely on a single optimistic rate, return, or fee assumption. Money pages work best when you run low, base, and high cases and keep professional advice separate from the estimate.
This page belongs to the Finance calculator library, so the answer should be read in the context of the decision you are modeling rather than as a universal rule.
Before relying on this loan-to-value (ltv) estimate
Most calculator mistakes come from the inputs, not the arithmetic. Use this short audit before you reuse the answer in a spreadsheet, quote, application, or important conversation.
Confirm source numbers
Match balances, rates, fees, taxes, income, and payment dates against the lender quote, payroll record, tax form, statement, invoice, or contract.
Separate cash flow from total cost
A lower monthly payment can still cost more over time if fees, interest, taxes, or a longer term are hidden in the structure.
Run conservative cases
Test at least one higher-cost or lower-return case before using the output for a purchase, refinance, investment, loan, or tax decision.
Rerun this page when the rate, price, term, fee, tax rule, income, expense, or expected holding period changes.
How to Use
- Enter the appraised property value (or current market value).
- Enter the first-lien mortgage balance.
- Enter any second-lien balance — HELOC drawn, home equity loan, second mortgage.
- Enter the lender's maximum CLTV ceiling for the product you want (typically 80% conventional, 85% HELOC, 95% FHA).
- Compare LTV and CLTV against the ceiling to see how much equity you can still tap.
Frequently Asked Questions
What's the difference between LTV and CLTV?
LTV is the first lien only divided by value. CLTV adds every recorded mortgage lien — first, second, HELOC drawn balance — divided by value. Lenders use CLTV to limit total leverage on the property.
Why does 80% LTV matter for PMI?
On a conventional conforming loan, private mortgage insurance is generally required when LTV exceeds 80%. PMI can usually be cancelled when the LTV reaches 78–80% based on original or current value (lender rules vary).
What's a typical max LTV for a cash-out refi?
Most conventional cash-out refinances on a primary residence cap at 80% LTV. Investment properties cap lower (often 75%). FHA cash-out caps at 80% as well. VA cash-out can go higher in some cases.
Does the 'value' use appraised or purchase value?
For a purchase, lenders use the lower of price and appraisal. For a refinance, they use appraised value. After ownership, time-based seasoning rules may also apply for cash-out refis.
Related Calculators
Loan-to-Cost Calculator
Pair LTV with the LTC ratio used for construction loans.
PMI Calculator
Estimate PMI cost when your LTV is over 80%.
Down Payment Calculator
Size the down payment needed to hit a target LTV.
HELOC Calculator
Check how much HELOC the lender will allow against CLTV.
Cash-Out Refinance Calculator
Run the cash-out refi against the 80% LTV cap.
Mortgage Insurance Calculator
Compare PMI, MIP, and other mortgage insurance options.
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