2006-08-20 03:30:57 · 2 answers · asked by snowman 1 in Business & Finance ➔ Credit
You may want to check with the banks in your area.
Many financial institutions offer home equity lines up to a maximum of 110% (some go as high as 125%) of the equity value on the primary residence:
http://www.allegacyfcu.org/realestatehomeequityclosedend.html
http://www.mortgageloan.com/125-percent-home-equity-loan
Hope this helps!
2006-08-20 08:03:43 · answer #1 · answered by extremenerd 7 · 0⤊ 0⤋
If you are conversative fiscally, you should never do that .. If the home prices go down in your area, the lender might have the right to foreclose on your home if you do not repay.. Unless you absolutely must, try to take more out your house if that's the place you live ..
As for getting these kind of loans, try your local credit unions first since they might have better rates... Research more at www.bankrate.com
Good luck !
2006-08-21 11:57:12 · answer #2 · answered by jabropunter 2 · 0⤊ 0⤋