The loan-to-value (LTV), combined loan-to-value (CLTV), and home equity/high credit loan-to-value (HCLTV) ratios are important figures used by lenders to determine the risk of lending to the borrower. This article provides an overview of how the system calculates and uses these ratios.

**What are LTV, CLTV, and HCLTV ratios?**

**LTV** - the loan-to-value ratio represents the size of the borrower’s new loan as a percentage of the subject property’s value.

**CLTV** - the combined loan-to-value ratio represents the size of *all* loans on the subject property as a percentage of the property’s value. Unlike LTV, this figure includes any forms of financing on the property, including other mortgages and the drawn balance of home equity lines of credit (HELOC).

**HCLTV **- the home equity loan-to-value ratio represents the upper limit of all loans on the subject property as a percentage of the property’s value. Unlike CLTV, this figure uses the maximum credit limit for any HELOCs to calculate the size of the borrower’s loan as a proportion of the property’s value.

The system calculates these ratios according to industry standards. To learn more, refer to Fannie Mae’s and Freddie Mac’s lending guidelines.

**Where to find the LTV, CLTV, and HCLTV ratios**

The LTV, CLTV, and HCLTV ratios can be found on the bottom of the "Loan Details" page

These ratios are calculated automatically by the system based on the loan amount and property value provided in the Property section of the loan application

These ratios also appear on the "Shop for Rates" page. These figures cannot be edited directly - the LTV can only be adjusted by changing the **Base Loan Amount** or the **Purchase Price**.

These ratios are can also be found in the contextual bar on the "Pricing Results" page

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