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Updated almost 5 years ago,
Equity position/LTV percentage?
What equity position in a home would a bank need for me to cash out refi at 80% LTV?
I have a home that will be worth at minimum 150k with 67k mortgage on it. I’m planning on a cash out refi to get my money back out of the deal and to build out a second unit in the downstairs ( it’s already zoned for multi family)
Just curious on the LTV percentage I'd be able to get with equity position I have.
Thanks in advance!