Alternative Financing for Equity Line? - Posted by David B

import · October 13, 2003, 7:16pm

Posted by Cassie on October 16, 2003 at 17:24:12:

email me directly and I’ll give you my source
Casie

import · October 13, 2003, 7:16pm

Posted by David B on October 13, 2003 at 19:16:16:

Hi,
I have an investment townhome that I’ve owned for 6 months. It has over $100,000 in equity but regular banks won’t give me an equity line against it. They say I need to have held it for one year?! Seems so ridiculous because the equity is in the home. Do you know of an alternative source that would give me equity against the townhome?
Thanks,
David B

import · October 15, 2003, 5:58pm

Re: Alternative Financing for Equity Line? - Posted by Brent_IL

Posted by Brent_IL on October 15, 2003 at 17:58:36:

Don’t apply to banks. Talk to local mortgage brokers to find lenders that don’t require seasoning. FHA is only six months, so shop around.