Progressions loans up to 85% of the equity available in the home for mortgages and 100% for home equity lines of credit. 


Take the market value of your home X 85%.  Take that value and subtract the current 1st mortgage (or other mortgages).  For example, if your home is worth $100,000:

1st mortgage:
$100,000 X 85% = $85,000
2nd mortgage
First mortgage of $50,000 subtracted from above equity = $35,000