Posted by Wayne-NC on April 16, 2002 at 14:54:51:
Equity LOC’s are only available on your principle residence and you can borrow up to 100-125% CLTV. I have one on an investment property only because it was established when it was my principle residence. If you find one on an investment property, let me know.
equity line credit - Posted by marcNJ
Posted by marcNJ on April 14, 2002 at 20:24:16:
Can someone go through the details of getting an equity line of credit.I know this is common with investors.I understand that its based on yhe equity in your properties, but do you base it on one property or can you use all of your properties, like a wrap.Also what amount will they lend?I own a few properties with different amounts of equity in them. What % will they lend, and do they require appraisals.Please explain.I thank all who will enlighten me on this subject.