What is a high combined loan to value (HCLTV) and how is it different from a combined loan to value (CLTV)?

The high combined loan to value (HCLTV) is the ratio of all mortgage loan amounts outstanding on a property when the second mortgage is a Line of Credit.  The HCLTV uses the maximum Line of Credit limit available to be drawn in relation to the property's appraised value (or the selling price, whichever is less).  The CLTV is calculated using only the actual balance of the first and second mortgages in relation to the property's value.

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KBID: 2572Date Modified: 3/12/2013Date Created: 5/27/2010

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