Loan-to-Value (LTV) Calculator
Loan-to-value is your mortgage balance divided by what the home is worth. A $280,000 balance on a $450,000 home is 62%. Add a $40,000 second lien and the combined loan-to-value becomes 71%. Lenders read both: 80% is the usual ceiling for a cash-out refinance, and conventional mortgage insurance comes off automatically at 78% of the original value.
On this page
How the maths works
Loan-to-value is one division, expressed as a percentage:
LTV = first mortgage balance ÷ home value × 100
Combined loan-to-value counts every lien against the property, not just the first:
CLTV = (first + second + HELOC) ÷ home value × 100
The distinction is the whole point of the page. A homeowner with a $280,000 mortgage on a $450,000 house reads their own position as 62% and comfortable. Add a $40,000 HELOC taken out years ago and the figure a lender measures a cash-out against is 71%, which leaves far less room under an 80% ceiling than the first number suggested.
The thresholds worth knowing
- 80% is the usual ceiling for a conventional cash-out refinance, measured against the combined figure.
- 80% is also where you can ask a servicer to cancel conventional private mortgage insurance.
- 78% of the original value is where the servicer must cancel it automatically, without being asked, under the Homeowners Protection Act.
- Over 100% means the loan is underwater. This page shows that rather than capping the number, because a capped figure would tell you there is room where there is none.
FHA mortgage insurance does not follow these rules. On most FHA loans opened after June 2013 it stays for the life of the loan regardless of what happens to LTV, and the way out is refinancing into a conventional loan rather than waiting.
Why the value in the box is the soft part
Both figures are only as good as the value they divide by, and that is the number neither you nor this page controls. A lender uses an appraisal. If your LTV lands near a threshold that matters, treat it as near rather than past: a valuation $15,000 below what you expected moves a 78% into an 81% and changes the answer.
Loan-to-value at common balances
| Balance | Home worth $350,000 | Home worth $450,000 | Home worth $550,000 |
|---|---|---|---|
| $200,000 | 57% | 44% | 36% |
| $250,000 | 71% | 56% | 45% |
| $300,000 | 86% | 67% | 55% |
| $350,000 | 100% | 78% | 64% |
| $400,000 | 114% | 89% | 73% |
Frequently asked questions
What LTV do I need to drop mortgage insurance?
On a conventional loan the servicer must cancel private mortgage insurance automatically once the balance reaches 78% of the original value, and you can request cancellation at 80%. FHA mortgage insurance works differently: on most loans opened after June 2013 it stays for the life of the loan unless you refinance out of FHA.
What is the difference between LTV and CLTV?
LTV counts only the first mortgage. CLTV counts every lien against the property, so a HELOC behind your mortgage raises it. Cash-out ceilings are measured against the combined figure, which is why a second lien can put a refinance out of reach even when the first mortgage looks small.
Can my LTV be over 100%?
Yes. If the balance is larger than the home is worth the ratio goes past 100% and the loan is underwater. This calculator does not hide that, because a capped number would tell you that you have room you do not have.
Sources
- Homeowners Protection Act, PMI cancellation at 80% and automatic termination at 78%, retrieved 2026-08-24
Last updated: August 25, 2026