1 read the information about home equity lines of, Ask an Expert

Finance

1. Read the information about home equity lines of credit.

A. customer has a house that is appraised for $225,000 and has a current loan balance of $175,000.

a. How much equity does he/she have?

b. If the bank's loan guidelines state that you cannot exceed 85% LTV, how much can you borrow the customer?

2. A customer has a house with a tax assessed value of $325,000 and has a current loan balance of $228,000.

a. If the bank's loan guidelines state that you cannot exceed 75% LTV, how much can you borrow the customer?

b. If the bank's loan guidelines state that you cannot exceed 90% LTV, how much can you borrow the customer?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92721542

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