HELOC approval DTI

[Joe Boggin]

my salary is modest. my primary residence is modest. taxes in NJ suck. my DTI now stands at around 38% with my note and all the goodies that come along with life. i was gifted a property with a decent amount of equity. i have posted before and i apologize for posting again.

i want to access the equity in the gifted property after some renovations and seasoning period with the deed transfer. i would guess the value comes in at 50k, with a free and clear title and no lender.

even a 30k HELOC would suffice my needs but what im worried that the monthly payment would bring my ratios above an acceptable number. whats the normal max DTI with second home HELOC? 45%?? any generous banks out there that extend to 48% or 50%??

any possible estimates on monthly payments on 30k HELOC @ 5%??

i think i can afford about another 250 a month payment and still be under 45% but i would only apply if my app was a sure shot....