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 tap entire equity to take out a second mortgage or for cash-out refinance?
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.
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.