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Updated about 5 years ago on . Most recent reply

Quan Booker's profile image
Quan Booker's profile image
Quan Booker
  • from Brookfield, WI
  • Member since Jun 6, 2013
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Quan Booker's profile image
Quan Booker's profile image
Quan Booker
  • from Brookfield, WI
  • Member since Jun 6, 2013
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Quan Booker
  • Brookfield, WI
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Personal Finance

Problem Getting Out Equity

Quan Booker
  • Brookfield, WI
Posted

I purchased a duplex for 165k 2 years ago. Remodeled kitchen and bathroom along with adding a garage and now it's worth 250k.  I ended up using some personal loans to accomplish some of this.  I planned on refinancing/heloc to pull the money out to pay off the loans and put down on my next property.  The problem I have is my debt/income ratio is too high because of the loans I heard from one lender. I just want to pay off the loans with equity.  Not sure how to proceed besides slowly paying down my personal loans until I can get a refinance/heloc.  Any suggestions?

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Nicholas Covington's profile image
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Nicholas Covington
  • Mortgage Broker
  • from Dallas, TX
  • Member since Mar 27, 2017
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Nicholas Covington's profile image
Nicholas Covington's profile image
Nicholas Covington
  • Mortgage Broker
  • from Dallas, TX
  • Member since Mar 27, 2017
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Nicholas Covington
  • Mortgage Broker
  • Dallas, TX
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Nicholas Covington
  • Mortgage Broker
  • Dallas, TX
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@Quan Booker where is this property located?

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