In replying to "Since you first took out this loan, how much has been spent to buy, improve, or build the home it's secured by?", you need to include the original purchase cost of the the first mortgage plus the cost of any improvements made with funds from the refinance. The term 'this loan' means the original mortgage and the refinance taken together. For example, if you purchased the home for $350K and after paying some of the principle down, refinanced for $300K, the answer is still $350K. If you took out $50K with the refinance and used it to improve the home, the answer would be $350K + $50K = $400K.
