2006-10-16 04:50:31 · 5 answers · asked by Tiger0918 1 in Business & Finance ➔ Renting & Real Estate
Depends on the value of the home. Most places will finance up to 125 % of the value of the home. Check with your local banks or mortgage companies.
2006-10-16 05:23:16 · answer #1 · answered by CMR2006 3 · 0⤊ 0⤋
Typically, it is 80-90% of combined loan to value.
This means that the first trust mortgage and the HELOC (2nd trust) must not exceed 80-90% of the value of the property......varies from lender to lender...some lenders will do upto 90% others a little lower.....
2006-10-16 15:02:16 · answer #2 · answered by boston857 5 · 0⤊ 0⤋
It depends on how much equity you have in your home. Hence the name "Home Equity Line" If your home is worth $150,000 & you owe $157,000, you wont qualify for ANYTHING. If it's worth $150,000 and you owe $130,000 you could get up tp $20,000.
Good Luck
2006-10-16 12:07:17 · answer #3 · answered by chanda 3 · 0⤊ 0⤋
Depends. My Bank of America offers up to 1,000,000.
2006-10-16 11:58:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Most have a maximum loan amount of $250,000.
2006-10-16 11:57:44 · answer #5 · answered by Justin 3 · 0⤊ 0⤋