Your home’s appraised value
Current value of your home as being appraised by the lender. This value is closer to the market value of the home.
Amount of owed mortgages
Total amount of outstanding mortgages on the same property including first mortgage, second mortgage, and other home-backed debts.
Portion of the appraised value, the lender will allow you as line of credit. For example, if your home has an appraised value of $120,000 and loan-to-value ratio is 75%, you will receive a debt of $90,000.