Combined loan to value ratio (CLTV) is the proportion of loans (secured by a property) in relation to its value.
Alternatively, they could also borrow the $ 729,750 and use a second mortgage of $ 100,000 (our current maximum if
the Combined Loan to Value ratio over 80 %).
Your Fico credit score, Debt to Income Ratio, and
Combined Loan to Value ratio will determine the mortgage rate and the limits for loans size.
Your Fico credit score, Debt to Income Ratio, and
Combined Loan to Value ratio will determine the mortgage rate.
The maximum
combined loan to value ratio is 125 % for fixed rate FHA home loans that are subordinated.
Note that certain home loan products at Fannie Mae or Freddie Mac also look at HCLTV, which is the home equity
combined loan to value ratio.
You can figure out
the combined loan to value ratio in a similar way.
Various loan documents, including loan approval forms, good faith estimates, and underwriting transmittal forms, that failed to disclose secondary financing and falsely represented
the combined loan to value ratio
Not exact matches
In addition
to the
loan to value ratio (LTV) of your first mortgage, lenders evaluating a second mortgage application also rely on the
combined loan to value (CLTV).
Loan to value (LTV) and combined loan to value (CLTV) ratios are used to compare the balances of your mortgages to your property's present va
Loan to value (LTV) and
combined loan to value (CLTV) ratios are used to compare the balances of your mortgages to your property's present va
loan to value (CLTV)
ratios are used
to compare the balances of your mortgages
to your property's present
value.
In a program which went into effect Monday, HUD explains that with the exception of streamline refinance transactions, the
combined amount of the FHA - insured first mortgage and any subordinate lien may not exceed the applicable FHA
loan -
to -
value ratio AND the geographical maximum mortgage amount.
Lenders that allow a
combined loan -
to -
value ratio of 80 % would
loan you 30 % of your equity, or $ 60,000.
All applicants must have a credit score of 740 or higher,
combined debt
to income
ratio of 38 % or lower, meet program assets requirements and have a Loan to Value Ratio less than or equal to
ratio of 38 % or lower, meet program assets requirements and have a
Loan to Value Ratio less than or equal to
Ratio less than or equal
to 60 %.
Now that you know how
to calculate your
loan -
to -
value and
combined loan -
to -
value ratios and how you can impact them, you can make more informed choices
to help you reach your financial goals, whether you choose
to borrow from the equity in your home, refinance or simply continue
to pay down any current home
loan balances.
June, 2012: Another round of rule changes introduced a stress test reducing the maximum amortization period down
to 25 years for high -
ratio insured mortgages; a maximum debt load of 44 per cent of income on all mortgages regardless of
loan to value; a new maximum
loan to value of 80 per cent for refinances; limiting government - backed insured high -
ratio mortgages
to homes
valued at less than $ 1 - million and and creating a maximum 65 %
loan to value on lines of credit unless
combined with a mortgage component.
About 33 percent of adjustable - rate
loans in the Alt - A sector were originated with reduced documentation and a
combined loan to value (CLTV)
ratio of greater than 95 percent last year.
Combined Loan -
to -
Value ratio; The overall mortgage debt, expressed as a percentage of the home's fair market v
Value ratio; The overall mortgage debt, expressed as a percentage of the home's fair market
valuevalue.
The
loan to value (LTV)
ratio of a mortgage is the
ratio of the mortgage balance
to the
value of the property, while the
combined loan to value (CLTV) is the same calculation made for the sum of all
loans taken out on the property.
The bank will also consider your
combined loan -
to -
value ratio, or CLTV, when pricing the
loan.
The interest rate you receive will depend on your credit score, your
combined loan -
to -
value ratio, the length of the payback period, and other factors.
Generally speaking, you will need a
combined loan -
to -
value (CLTV)
ratio of 85 % or less, in order
to qualify for HEL financing.
The
loan -
to -
value (LTV)
ratio for the FHA refinance mortgage may not exceed 96.5 % of your home» current
value, but
combined loan -
to -
value (CLTV) for mortgage amounts on your refinance and eligible subordinate
loans is unlimited.
A lender that allows a
combined loan -
to -
value ratio of 80 % would grant you a 30 % home equity
loan or line of credit, for $ 90,000.
·
Loan amount (conforming or jumbo) · Documentation (full, stated, etc.) · Credit score · Occupancy (primary, vacation, investment) · Loan Purpose (purchase or refinance) · Debt - to - Income Ratio · Property Type (SFR, condo, multi-unit) · Loan - to - value / Combined loan - to - v
Loan amount (conforming or jumbo) · Documentation (full, stated, etc.) · Credit score · Occupancy (primary, vacation, investment) ·
Loan Purpose (purchase or refinance) · Debt - to - Income Ratio · Property Type (SFR, condo, multi-unit) · Loan - to - value / Combined loan - to - v
Loan Purpose (purchase or refinance) · Debt -
to - Income
Ratio · Property Type (SFR, condo, multi-unit) ·
Loan - to - value / Combined loan - to - v
Loan -
to -
value /
Combined loan - to - v
loan -
to -
value
Many lenders, particularly the more conservative ones, offer
loans with lower
Combined Loan to Value (CLTV)
ratios, also known as Total
Loan -
to -
Value (TLTV)
ratio.
Rates are as low as 4.99 % APR and are based on an evaluation of credit history, CLTV (
combined loan -
to -
value)
ratio,
loan amount and occupancy, so your rate may differ.
Sample APR assumes a new $ 100,000 HELOC in second lien position with a
combined loan -
to -
value (CLTV)
ratio of up
to 70 % on a 1 -
to 4 - unit owner - occupied primary residence and a borrower with excellent credit.
* CLTV * -
Combined Loan To Value * CMA * - Comparative Market Analysis * COCR * - Cash on Cash Return * COF * - Cost of Funds * COO * - Certificate of Occupancy * CRB * - Certified Residential Broker * CRE * - Creative Real Estate * CRS * - Certified Residential Specialist * DBA * - Doing Business As * DCR * - Debt Coverage
Ratio * DOS * - Due On Sale Clause * DOT * - Deed of Trust * DSCR * - Debt Service Coverage
Ratio * FCRA * - Fair Credit Reporting Act
As a general rule, lenders will let you borrow as much as 80 percent (some even allow as much as 90 percent) of your «
combined loan to value,» or CLTV,
ratio.
Combined Loan -
to -
Value ratio; The overall mortgage debt, expressed as a percentage of the home's fair market v
Value ratio; The overall mortgage debt, expressed as a percentage of the home's fair market
valuevalue.
«There are no minimums placed on credit scores, no maximums placed on
loan -
to -
value ratios and no limits on risk layering, which is when low credit scores are
combined with high LTVs, a 30 - year amortization term and high DTIs.
The term «
combined loan to value» adds additional specificity
to the basic
loan to value which simply indicates the
ratio between one primary
loan and the property
value.