Is it possible to tap entire equity to take out a second mortgage or for cash-out refinance?
Date: Wed, 09/06/2017 - 17:47
Is it possible to take out a second mortgage or opting for cash-out refinancing tapping the entire equity on the home?
It's not possible today my
It's not possible today my friend. Now, as SC said earlier, lenders would allow you to use only 80% to 90% equity on your home.
Years ago, you could tap 100%
Years ago, you could tap 100% equity on your home. Nowadays, most lenders would allow you to tap 80% to 90% equity on your home.
Remember, by tapping the
Remember, by tapping the equity in your home you'll be increasing your monthly mortgage payments. Also, there is a chance to lose your primary home to foreclosure.
Submitted by Sanders Patricia on Thu, 09/07/2017 - 05:36
( Posts: 1241 | Credits: )
Remember, by tapping the
Remember, by tapping the equity in your home you'll be increasing your monthly mortgage payments. Also, there is a chance to lose your primary home to foreclosure.
Submitted by Sanders Patricia on Thu, 09/07/2017 - 05:37
( Posts: 1241 | Credits: )