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.
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.
More Finance Calculators
Browse all finance →AI Cost Calculator
Compare token costs across OpenAI, Anthropic, and Google AI models. Calculate monthly API spending for GPT-4o, Claude, Gemini, and more.
Tip Calculator
Calculate the perfect tip and split the bill between friends. Choose preset percentages or enter a custom tip amount.
Bill Splitter Calculator
Split an uneven restaurant bill by item, divide tax and tip proportionally, and see exactly who owes whom.
Discount Calculator
Calculate sale price, discount amount, stacked discounts, sales tax, and total savings for any markdown.
Gas Mileage Calculator
Calculate MPG or km/L, estimate trip fuel cost, and compare annual fuel expenses between two vehicles.
Sales Tax Calculator
Add sales tax to a price, reverse-calculate the pre-tax amount from a total, and estimate tax for multiple items on one receipt.
Keep exploring
Next steps in Finance
Previous calculator
Loan-to-Cost Calculator
Calculate LTC for a construction or rehab project — loan amount divided by total project cost (purchase + rehab + soft costs) — vs the lender ceiling.
Next calculator
Maintenance Reserve Calculator
Set aside a defensible monthly maintenance and capex reserve using the 1% rule, 50% rule, or an itemized budget for a rental property.