Posted by lo on August 02, 2003 at 19:49:05:
My clients have received a HELOC based on 80% of
appraised value @ 4 1/4%. Then we put them in 3
Rental properties with zero down and rolled the
closing costs into the mortgage. We can do that
because we buy properties below appraised value
so that with the closing costs added on, they still
fall within the appraisal.