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Updated over 7 years ago,
How large a loan can I get with $100,000 in equity
I want to use the equity from my personal home to buy my first rental home. I have $100,000 in equity right now. If I went to a bank to get a home equity loan how much could I get? I'm looking at a foreclosure that I think I can get for $30,000. I'd like to put $15,000 into repairs. Could I finance the entire loan just from my equity? I appreciate anyone who could help me with this!