To determine the CLTV, the sum of all mortgages divided by the appraised value or purchase price(whichever is less).
The calculation is
CLTV = Sum of mortgages / Appraised value or purchase price
For Example
House value = $100,000
1st mortgage = $80,000
2nd mortgage = $10,000
CLTV = ($80,000 + $10,000) / $100,000 = 90% (CLTV)
And LTV = 80%
Note: The information provided on or through this site and all mortgage calculators is for purposes of general consumer education only.
and is not intended as a substitute for advice from a qualified professional.