- Appraised value of your home
- The current value of your home as determined by a bank approved appraiser or automated valuation modal.
- Outstanding home loans
- Total amount of all outstanding home loan balances, including your first mortgage, second mortgage(s), and any other debt that is secured by your home.
- Loan-to-value (LTV) ratio limit
- The maximum percentage of your home's appraised value that the lender will allow you to borrow against. For example, if the lender has an 80% limit, and the home has an appraised value of $400,000, the applicant could have no more than $320,000 in outstanding home loans.