A borrower looking to keep his CLTV below 90% on a home appraised at $200,000 could qualify for what?

To keep the Combined Loan-To-Value (CLTV) ratio below 90% on a home appraised at $200,000, the borrower must ensure that the total value of all loans secured by the property does not exceed 90% of the appraised value. In this case, 90% of $200,000 is $180,000. Therefore, the borrower can qualify for mortgages totaling no more than $180,000 without exceeding the CLTV limit.

This means that if the borrower has a first mortgage and possibly a second mortgage or a Home Equity Line of Credit (HELOC), the total amount borrowed must stay at or below that $180,000 threshold. This aligns with the requirement to maintain a CLTV under 90%, making it the correct answer.

The other choices involve scenarios where the total loans could exceed this threshold, thus not meeting the criteria for keeping the CLTV below 90%. The focus is on ensuring that the combined debt obligations on the property remain within the allowable limit based on the appraisal value.