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Updated almost 5 years ago,

User Stats

16
Posts
1
Votes
Mark Lynch
  • Contractor
  • Vineland, NJ
1
Votes |
16
Posts

Equity position/LTV percentage?

Mark Lynch
  • Contractor
  • Vineland, NJ
Posted

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!