
HELOCs and Fixed Rate Second Liens
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Definitions
• LTV: means "loan to value"
Example: 90 LTV means you can get a loan up to 90% of the property value if you qualify.
If your home is worth $1,000,000 and you have a $500,000 first loan at 4.00% you may qualify for a 2nd loan up to $400,000.
The combined loans total $900,000. $900,000 ÷ $1,000,000 = 90 CLTV.
As of 5/11/2023