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Updated over 6 years ago,

User Stats

8
Posts
2
Votes
Sherman Lau
  • Investor
  • Bronxville, NY
2
Votes |
8
Posts

Home Equity Advice Needed

Sherman Lau
  • Investor
  • Bronxville, NY
Posted

I am seeking advice on how to obtain a Home Equity Line against my primary residence. I have been rejected in the past. I was told that my DTI was too high for my Income because of existing debt on my home and one Investment property. However, my Primary Mortgage LTV is 31% and I have over $1,300,000 equity. The investment property clears about $800/month.

Does anyone have guidance on how I may tap into my equity for additional investments?  If so, how much I can take out and at what interest rate?  Thank you for your thoughts.

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