GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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76% - Very Often

Combined Loan-to-Value


Synonyms:blend, merge, pooled LTV
Acronyms &
abbreviations:
CLTV
Notes:A term used by mortgage lenders and mortgage underwriters.
Filed Under: mortgages
Tags: banking, credit, credit rating, finance, loan, mortgage, mortgage lender, preapproval, qualification
 

Definition of combined loan-to-value (CLTV)

combined loan-to-value (CLTV)
1. The relationship between the unpaid principal balances of all the mortgages on a property (first and second usually) and the property's appraised value (or sales price, if it is lower).

Related Terms and Acronyms:

  • loan-to-value (LTV)   The ratio of the principal amount of the loan to the lesser of the purchase price of the property or the property's appraised value. This can be expressed as an 80% loan, or 80% LTV.
      ➥  A widely used term in the mortgage brokerage and lending industry, especially by mortgage underwriters.
  • mortgage application   A document in which a prospective borrower details his or her financial situation to qualify for a loan.
  • second mortgage   A mortgage which ranks after a first mortgage in priority on a registered land title.

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Mortgage Product Type Inquiries
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Refinance/Consolidate Debt14.19%
No Money Down discontinued11.65%
Mortgage Renewal10.16%
Other9.85%