Question: A couple is refinancing their first mortgage and applying for a Home Equity Line of Credit as well. The homes appraisal value is $250,000. The

A couple is refinancing their first mortgage and applying for a Home Equity Line of Credit as well. The home’s appraisal value is $250,000. The first mortgage is has a principal balance of $160,000. The HELOC is originated for $40,000, with an initial draw of $20,000 at closing.

What is the LTV, CLTV and TLTV for the borrowers?

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