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Loan-to-Value worksheet

Grades 6–7 · CCSS 6.RP.A.3.c, 7.RP.A.3

Solve each problem and show your work. Round answers to 2 decimal places where needed.

1.
Problem 1.
- Property value: $350,000
- First mortgage balance: $350,000
- Other loans secured by the property: $28,000
- Target combined LTV: 62%
Find: Loan-to-value (LTV)
Answer
2.
Problem 2.
- Property value: $325,000
- First mortgage balance: $200,000
- Other loans secured by the property: $27,000
- Target combined LTV: 95%
Find: Loan-to-value (LTV)
Answer
3.
Problem 3.
- Property value: $450,000
- First mortgage balance: $260,000
- Other loans secured by the property: $20,000
- Target combined LTV: 66%
Find: Loan-to-value (LTV)
Answer
4.
Problem 4.
- Property value: $450,000
- First mortgage balance: $300,000
- Other loans secured by the property: $35,000
- Target combined LTV: 92%
Find: Loan-to-value (LTV)
Answer
5.
Problem 5.
- Property value: $475,000
- First mortgage balance: $325,000
- Other loans secured by the property: $31,000
- Target combined LTV: 64%
Find: Loan-to-value (LTV)
Answer
6.
Problem 6.
- Property value: $440,000
- First mortgage balance: $350,000
- Other loans secured by the property: $25,000
- Target combined LTV: 80%
Find: Loan-to-value (LTV)
Answer
7.
Problem 7.
- Property value: $275,000
- First mortgage balance: $280,000
- Other loans secured by the property: $22,500
- Target combined LTV: 90%
Find: Loan-to-value (LTV)
Answer
8.
Problem 8.
- Property value: $375,000
- First mortgage balance: $275,000
- Other loans secured by the property: $28,000
- Target combined LTV: 70%
Find: Loan-to-value (LTV)
Answer
9.
Problem 9.
- Property value: $500,000
- First mortgage balance: $300,000
- Other loans secured by the property: $18,000
- Target combined LTV: 79%
Find: Loan-to-value (LTV)
Answer
10.
Problem 10.
- Property value: $360,000
- First mortgage balance: $275,000
- Other loans secured by the property: $26,000
- Target combined LTV: 80%
Find: Loan-to-value (LTV)
Answer

Answer key: Loan-to-Value worksheet

1. Loan-to-value (LTV): 100%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$350,000.00}{$350,000.00} \times 100$ $= 100%$
2. Add up everything you owe that's secured by the home
  $$350,000.00 + $28,000.00$ $= $378,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$378,000.00}{$350,000.00} \times 100$ $= 108%$
4. Find your equity: the home's value minus everything you owe
  $$350,000.00 - $378,000.00$ $= −$28,000.00$
5. Find your room to a 62% combined LTV: the most a lender would allow (62% of the value) minus everything you owe
  $62% \times $350,000.00 - $378,000.00$ $= −$161,000.00$
2. Loan-to-value (LTV): 61.54%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$200,000.00}{$325,000.00} \times 100$ $= 61.5385%$
2. Add up everything you owe that's secured by the home
  $$200,000.00 + $27,000.00$ $= $227,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$227,000.00}{$325,000.00} \times 100$ $= 69.8462%$
4. Find your equity: the home's value minus everything you owe
  $$325,000.00 - $227,000.00$ $= $98,000.00$
5. Find your room to a 95% combined LTV: the most a lender would allow (95% of the value) minus everything you owe
  $95% \times $325,000.00 - $227,000.00$ $= $81,750.00$
3. Loan-to-value (LTV): 57.78%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$260,000.00}{$450,000.00} \times 100$ $= 57.7778%$
2. Add up everything you owe that's secured by the home
  $$260,000.00 + $20,000.00$ $= $280,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$280,000.00}{$450,000.00} \times 100$ $= 62.2222%$
4. Find your equity: the home's value minus everything you owe
  $$450,000.00 - $280,000.00$ $= $170,000.00$
5. Find your room to a 66% combined LTV: the most a lender would allow (66% of the value) minus everything you owe
  $66% \times $450,000.00 - $280,000.00$ $= $17,000.00$
4. Loan-to-value (LTV): 66.67%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$300,000.00}{$450,000.00} \times 100$ $= 66.6667%$
2. Add up everything you owe that's secured by the home
  $$300,000.00 + $35,000.00$ $= $335,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$335,000.00}{$450,000.00} \times 100$ $= 74.4444%$
4. Find your equity: the home's value minus everything you owe
  $$450,000.00 - $335,000.00$ $= $115,000.00$
5. Find your room to a 92% combined LTV: the most a lender would allow (92% of the value) minus everything you owe
  $92% \times $450,000.00 - $335,000.00$ $= $79,000.00$
5. Loan-to-value (LTV): 68.42%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$325,000.00}{$475,000.00} \times 100$ $= 68.4211%$
2. Add up everything you owe that's secured by the home
  $$325,000.00 + $31,000.00$ $= $356,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$356,000.00}{$475,000.00} \times 100$ $= 74.9474%$
4. Find your equity: the home's value minus everything you owe
  $$475,000.00 - $356,000.00$ $= $119,000.00$
5. Find your room to a 64% combined LTV: the most a lender would allow (64% of the value) minus everything you owe
  $64% \times $475,000.00 - $356,000.00$ $= −$52,000.00$
6. Loan-to-value (LTV): 79.55%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$350,000.00}{$440,000.00} \times 100$ $= 79.5455%$
2. Add up everything you owe that's secured by the home
  $$350,000.00 + $25,000.00$ $= $375,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$375,000.00}{$440,000.00} \times 100$ $= 85.2273%$
4. Find your equity: the home's value minus everything you owe
  $$440,000.00 - $375,000.00$ $= $65,000.00$
5. Find your room to a 80% combined LTV: the most a lender would allow (80% of the value) minus everything you owe
  $80% \times $440,000.00 - $375,000.00$ $= −$23,000.00$
7. Loan-to-value (LTV): 101.82%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$280,000.00}{$275,000.00} \times 100$ $= 101.8182%$
2. Add up everything you owe that's secured by the home
  $$280,000.00 + $22,500.00$ $= $302,500.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$302,500.00}{$275,000.00} \times 100$ $= 110%$
4. Find your equity: the home's value minus everything you owe
  $$275,000.00 - $302,500.00$ $= −$27,500.00$
5. Find your room to a 90% combined LTV: the most a lender would allow (90% of the value) minus everything you owe
  $90% \times $275,000.00 - $302,500.00$ $= −$55,000.00$
8. Loan-to-value (LTV): 73.33%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$275,000.00}{$375,000.00} \times 100$ $= 73.3333%$
2. Add up everything you owe that's secured by the home
  $$275,000.00 + $28,000.00$ $= $303,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$303,000.00}{$375,000.00} \times 100$ $= 80.8%$
4. Find your equity: the home's value minus everything you owe
  $$375,000.00 - $303,000.00$ $= $72,000.00$
5. Find your room to a 70% combined LTV: the most a lender would allow (70% of the value) minus everything you owe
  $70% \times $375,000.00 - $303,000.00$ $= −$40,500.00$
9. Loan-to-value (LTV): 60%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$300,000.00}{$500,000.00} \times 100$ $= 60%$
2. Add up everything you owe that's secured by the home
  $$300,000.00 + $18,000.00$ $= $318,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$318,000.00}{$500,000.00} \times 100$ $= 63.6%$
4. Find your equity: the home's value minus everything you owe
  $$500,000.00 - $318,000.00$ $= $182,000.00$
5. Find your room to a 79% combined LTV: the most a lender would allow (79% of the value) minus everything you owe
  $79% \times $500,000.00 - $318,000.00$ $= $77,000.00$
10. Loan-to-value (LTV): 76.39%
1. Find the LTV: what you owe on the first mortgage as a percent of the home's value
  $\frac{$275,000.00}{$360,000.00} \times 100$ $= 76.3889%$
2. Add up everything you owe that's secured by the home
  $$275,000.00 + $26,000.00$ $= $301,000.00$
3. Find the combined LTV (CLTV): everything you owe as a percent of the value
  $\frac{$301,000.00}{$360,000.00} \times 100$ $= 83.6111%$
4. Find your equity: the home's value minus everything you owe
  $$360,000.00 - $301,000.00$ $= $59,000.00$
5. Find your room to a 80% combined LTV: the most a lender would allow (80% of the value) minus everything you owe
  $80% \times $360,000.00 - $301,000.00$ $= −$13,000.00$