Re: Equity in Investment Property - Posted by Dave T
Posted by Dave T on January 09, 2001 at 24:30:33:
Have you asked your bank for a cash out refinance on your investment property?
Last week, Bank of America quoted me 7.375% on a 30-year fixed rate (non-owner occupied) loan for up to 80% of the appraised value of the property. I know that a new first mortgage is not an equity line of credit, and that your closing/settlement costs may be higher; but, if you want to convert your equity to cash, this is one way to do it.