In 2018 Cheryl bought a home for $450,000. She put $100,000…

 In 2018 Cheryl bought a home for $450,000. She put $100,000 down in cash and borrowed $350,000 from a bank. In 2020, the fair-market-value of the rose to $500,000. The amount she still owes on the first loan is $350,000. In 2020 Cheryl wants to borrow against her equity in the home to finance a new car purchase. What is the maximum she can borrow as an equity loan on the property and deduct all the interest on that equity loan?