Need an example or two for Cash out Refinance

[Ifegwu Sampson Ifegwu]

So, the refinance portion is still confusing to me

Let me explain what I know and hopefully one can reply with numerical example(s)

You have a property worth 200,000, down payment paid at 20%, so mortgage is currently 160,000.

Property goes up in value 50,000. Internal ARV at 250,000

You go to bank to cash-out-refi

250,000 * 80% = 200,000 LTV

That LTV is now subtracted by your old mortgage original amount? or what's left over.....then I get lost