Alexah purchased a home for $$500,000$ a few years ago. The home is worth $$650,000$ now. Her remaining mortgage balance is $$300,000.$ What is the maximum HELOC $[$home equity line of credit$)$ she can borrow?

$7$

Assuming max allowable HELOC would be $80\%$ of the market value

Market Value

Allowable HELOC $\%$

Max. Allowed HOLOC Loan Value

Mortgage Remaining $($subtract$)$

Max. HELOC available