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Updated over 9 years ago on . Most recent reply

User Stats

19
Posts
1
Votes
Akil Simmons
  • Investor
  • Elizabeth city, NC
1
Votes |
19
Posts

Home Equity for new purchase issues

Akil Simmons
  • Investor
  • Elizabeth city, NC
Posted

I purchased a investment home cash last month for $60,000 (it appraised for $110,000 as is). I wanted to home equity loan for $70,000 so I have my cash reserve back, but 2 banks so far say I haven't owned the house long enough. A third bank said they will do 80% of the purchase price. looking for some suggestions.

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