New Construction Appraisal Rate Lock Form States 87% Cltv For V.a. Loan, New Construction?

Rate lock form states 87% cltv for v.a. loan, new construction? - new construction appraisal

I locked in an interest rate of 5.75% for 90 days with my bank, our ongoing financing of our construction loan. To block in the standard form that shows CLTV (combined loan to value) of 87%. We make a loan and the plan is not set the option, if desired. The preliminary assessment of construction was $ 265,000. Our total loans starting with nothing, would, including land and all proceeds of $ 250,000. 87% of 265,000 is less than $ 250,000. I called my lender to ask it, and they said it was is your estimate of its lenders, which is the LTV. Where did these numbers come, they are generally completed in a further assessment before the closure, after the construction? And if so, what happens if the assessment is smaller, the key to not be taxed, if the loan exceeds 87% CLTV. A loan that is not a "parallel" loans or asked for anything, so why not list "combo" loan value?