Posted by David Alexander on March 25, 2002 at 23:20:39:
Combined Loan to Value…
As in say you avhe a property worth 100k…
It has first loan of 65k and second loan of 15k…
both loans would be a combined LTV of 80% (80k)…
Now if you were reinstating it with your money say for another 4k or something… then the total CLTV including your money would 84%…
Hope that helps…
David Alexander
What does CLTV mean ? - Posted by Shelly Smith
Posted by Shelly Smith on March 25, 2002 at 22:39:19:
LTV is Loan to Value Ratio right ?
What is CLTV ?
Thanks in advance.
Re: What does CLTV mean ? - Posted by Tim (CT)
Posted by Tim (CT) on March 26, 2002 at 06:50:47:
CLTV - or Combined Loan to Value is also used when you have one single mortgage and then do a home equity line of credit on that same property. The HELOC is considered a 2nd loan by some/most people as well.
Re: What does CLTV mean ? - Posted by Matthew LEE
Posted by Matthew LEE on March 26, 2002 at 01:27:48:
Also you may have heard of conventional loans 100% LTV, well what that typically is 100% CLTV… which is a 80/20 combo loan. You will typically recieve a lower interest rate on your 80% portion of the loan ei. 7%, and for the 20% portion you will pay higher interest rates ie. 13%, together you have a 100% loan…
Hope that helps.
Matthew Lee