Mortgage Math

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Last updated 7:48 PM on 10/12/26
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8 Terms

1
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Formula for LTV

Loan Amount divided by Value

2
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What is formula for CLTV?

Add Loan Amount of 1st mtg lien & 2nd mtg lien divided by value.

3
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What is the formula for HCLTV?

1st lien + Max HELOC draw divided by value

4
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Formula for DTI?

Total of monthly debts / decided by gross income

5
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Formula for PITI

Principal+Interest+Taxes+Insurance

6
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How to calculate interest?

Loan amount x interest rate / 12

7
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What is hazard insurance coverage requirement?

Lesser of loan amount or replacement cost.

8
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