Combined Loan-to-Value (CLTV)
Calculated by dividing the Loan Amount and any additional subordinate financing by the lesser of the Sales Price or by the Appraised Value on a Purchase, or Appraised Value on a Refinance.
| Calculation | |||
| Combined Loan-to-Value Ratio | = | 80.000% | |
| Total of: | Loan Amount | 64,000 | |
| All Subordinate Financing* | |||
| Unpaid Balance of 1st Mtg (2nd Mtg) | |||
| Lower of: | Sales Price | รท | 80,000 |
| Appraised Value | 80,000 |
