line of equity - Posted by DGFFP

Real Estate Investing Real Estate Financing
1

Posted by Michael Steele on April 10, 2006 at 17:24:28:

DGFFP

The answer to that depends on credit and income. More credit than actual income.

680 Plus you can get a line of credit without seasoning on title (having owned the property 6 months to a year)

This date is established by when the deed was recorded with the county (assuming the 680 middle score is not there) then you can start the deal at 5 months and close it as close to 6 months as you can get it (without knowing any other financial factors that may affect the deal)

Please contact for further info

Mike Steele

2

line of equity - Posted by DGFFP

Posted by DGFFP on April 10, 2006 at 17:17:16:

My family member is giving me a house.Can I get a equity line of credit pretty fast or do I have to own it a certain amout of time first?

3

Re: line of equity - Posted by Ed Garcia

Posted by Ed Garcia on April 11, 2006 at 08:59:52:

DGFFP,

The answer is YES. Seasoning could be an issue depending on the lender and your financial qualifications. Even if you have credit issues you can go Sub-prime which most Mortgage Brokers have.

Michael Steele was trying to tell you what you need to get competitive rates.

Ed Garcia