Calculate your loan-to-value (LTV) and combined LTV (CLTV), see home equity and PMI status, and check eligibility for conventional, FHA, VA and USDA loans.
Optional — add a second lien or HELOC balance to compute your combined LTV (CLTV).
Estimates for education only. Program maximums are typical limits; actual eligibility, PMI rates and terms vary by lender, credit profile and property type.
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The loan-to-value (LTV) ratio is the single number lenders lean on most when pricing a mortgage. This calculator shows your LTV and combined LTV (CLTV) instantly, along with your home equity, whether private mortgage insurance (PMI) applies, and how you compare against conventional, FHA, VA, USDA and HELOC limits.
Loan-to-value is your loan balance divided by the property's appraised value, shown as a percentage. Borrow $320,000 on a $400,000 home and your LTV is 80%. Lenders read a higher LTV as higher risk, so it drives your rate, your PMI requirement and which loan programs you qualify for. Combined LTV (CLTV) adds any second mortgage or HELOC to the numerator — the ratio lenders use for home-equity borrowing.
LTV & CLTV formulas
See the down payment needed to hit 80% LTV and skip PMI.
Check whether your equity clears the 80% cash-out and rate-and-term limits.
Find how much principal paydown or appreciation reaches the 80% cancellation threshold.
Confirm your combined LTV stays within a lender's HELOC or home-equity limit.
Conventional loans above 80% LTV typically require private mortgage insurance, which adds to your monthly payment until you reach 80%.
Lenders tier rates by LTV — a lower ratio usually earns a better rate and lower fees over the life of the loan.
LTV and CLTV determine how much equity you can tap with a HELOC or cash-out refinance, and whether you can refinance at all.
An LTV of 80% or lower is the benchmark: it avoids conventional PMI and usually earns better pricing. Loan programs still accept higher ratios — up to 97% conventional, 96.5% FHA, and 100% for VA and USDA — but expect mortgage insurance and higher rates.
Under the Homeowners Protection Act, you can request PMI cancellation when your balance reaches 80% of the home's original value, and the servicer must terminate it automatically at 78% (or at the loan's midpoint), as long as you are current on payments.
CLTV adds every lien — first mortgage plus any second mortgage or HELOC — divided by the property value. Home-equity lenders typically cap CLTV around 80 to 90%, so it is the ratio that governs how much equity you can borrow against.
Typical maximums are 97% for conventional purchases, 96.5% for FHA, and up to 100% for VA and USDA loans. Conventional cash-out refinances are usually capped at 80% LTV, and second homes or investment properties require lower ratios.
Make a larger down payment, pay down principal faster, or benefit from home-value appreciation. A higher appraisal at refinance also lowers LTV. Some buyers use a piggyback second loan to keep the first-lien LTV at 80% and avoid PMI.
Lenders price in LTV tiers, so a 75% LTV loan can carry a noticeably lower rate than a 95% loan. Over a 30-year mortgage even a quarter-point difference adds up to thousands of dollars.