LTV and CLTV calculator

Loan-to-value compares the loan to the home’s value. Combined LTV adds any second liens. When you enter both a price and an appraised value, the lower one is used.

Why the lower value is used, and how tax value and sale price differ, is covered in DTI and LTV explained and Tax value vs. sale price vs. appraisal.

Calculate LTV and CLTV

Purchase price Dollar amount.

Appraised value optional Leave blank to use the purchase price.

First mortgage amount The loan amount, including any financed upfront fee if you want it counted.

Second liens optional Second mortgage, down payment assistance lien, or HELOC balance. Blank counts as $0.

Calculate LTVClear

Which value lenders use

FHA uses the Adjusted Value: the lesser of the purchase price minus any inducements to purchase, or the appraised value.Source: HUD Handbook 4000.1, II.A.2 (Adjusted Value) · checked Nov 10, 2026

Fannie Mae uses the lower of the sales price or appraised value for purchases.Source: Fannie Mae Selling Guide B2-1.2-01, Loan-to-Value (LTV) Ratios · checked Nov 10, 2026

Note: FHA’s annual MIP tier is based on the base loan amount (before the upfront premium) and LTV. See Mortgage insurance explained.

Guidelines change; confirm with a licensed lender.