# Collateral stack sketch

**Mortgage Dorks Season 1**
**Course:** The Glossary - Learn the Language
**Lesson:** LTV, CLTV, and HCLTV
**Format:** Worksheet

## Use This For

Explain why a second lien or HELOC can change a file even when the first loan looks fine.

## Artifact Contents

- Property value.
- First mortgage amount.
- Closed-end second amount.
- HELOC line limit.
- Result: LTV, CLTV, HCLTV.

## How To Use It

- Calculate all three ratios on a sample $500,000 purchase with a $400,000 first and $50,000 HELOC.

## Guardrail

Use this as education and workflow support, not as an approval, legal, tax, or financial-advice shortcut.