Combined Loan-to-Value (CLTV)
Direct definition
Combined Loan-to-Value is the percentage of a home's value represented by all liens against it, including a first mortgage and any additional loans.
Written by the Vabasso Mortgage Editorial Team · Reviewed against agency and federal sources · Read our editorial policy for how we research and review mortgage content
Plain-English explanation
CLTV adds together the balances of a first mortgage and any second liens, such as a HELOC or home equity loan, then divides by the property's value. Lenders use it to assess total leverage when a borrower has more than one loan secured by the same property.
Why it matters
Even with a low first-mortgage balance, a large second lien can push CLTV high enough to affect eligibility for additional borrowing.
Where you may see it
- HELOC application
- Home equity loan disclosures
- Underwriting file
A real-world example
Educational and illustrative only
A common misunderstanding
CLTV is not the same as LTV, which typically reflects only the primary mortgage balance against the home's value.
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- Author
- Vabasso Mortgage Editorial Team
- Reviewed by
- Vabasso Mortgage Licensed Advisory Team
- Last reviewed
- July 30, 2026