2006-10-03 14:10:03 · 5 answers · asked by dblant001 1 in Business & Finance ➔ Renting & Real Estate
Depends on how much you have paid off on it. If you have equity this means that your home is worth more than what you have left to pay on it, usually an estimate is required of your home, and if you have done any renovations, this may also help as the renovations may have increased the value of your home.
2006-10-03 14:19:03 · answer #1 · answered by Neptune2bsure 6 · 0⤊ 0⤋
Some bsnks and mortgage cos. will lend up to 85% of the value or more which you never want to do. You only want to borrow what you really have to borrow because you still have to pay this all back and depending on when you got your original loan you may have a very good rate and paying back 85% at a higher rate would not be too smart. Get out of debt if you can and borrow the least you can get by with.
2006-10-03 21:15:39 · answer #2 · answered by MISS-MARY 6 · 0⤊ 0⤋
In Canada, most banks will lend up to 90% of the value of your home assuming your income qualifies to make the payments. For purchases they will lend up to 95%.
2006-10-03 21:16:08 · answer #3 · answered by susan c 2 · 0⤊ 0⤋
Some will give you up to 125% of the appraisal, but the feds will "legally" only give you a tax break up to the value of your home.
2006-10-03 21:12:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
if you qualify...up to 125% of the value.
2006-10-03 21:13:51 · answer #5 · answered by NOIZE 4 · 0⤊ 0⤋