what is the combined loan to value cltv ratio 
the combined loan to value cltv ratio is the ratio of all secured loans on a property to the value of a property lenders use the cltv ratio to determine a prospective borrower s risk of default when more than one loan is used the cltv differs from the simple loan to value ltv ratio in that the ltv only includes the first or primary mortgage in its calculation 1formula and calculation of the cltv ratioa cltv ratio is calculated by dividing the amount of all loans on the property including the one you are applying for by its value it is expressed as a percentage in general lenders are willing to lend at cltv ratios of 80 and below to borrowers with high credit ratings the following formula can be used to calculate combined loan to value cltv ratio 1cltv vl1 vl2 vlntotal value of the propertywhere vl value of loan begin aligned text cltv frac text vl1 text vl2 dots text vln text total value of the property textbf where text vl text value of loan end aligned cltv total value of the propertyvl1 vl2 vln where vl value of loan 