If your balance is 300k then that means you can take a line of credit of about 240k on your property.

You can probably get a line of credit for your business and use that if you don't want to front the costs.

But how can we draw a line between repairs and replacement?

I look at big banks and credit unions that BP users say have recently extended a line of credit for rental houses. 

Which account would it be easier to get a line of credit on if you wanted to access your equity?

But what type of loanA PML typically doesn’t do owner occupiedFor OO, banks right to government standards so they can sell the loans to the governmentA private money lender underwrites to their or if they have a line from a lender will underwrite to their covenants

I assume this is referring to paying extra principal payments into your closed end loan (fixed loan that cannot redraw your money back out, aka, not a line of credit):- Interest on a 360 year fixed is calculated per month so it doesnt reamortize mid month so that means if you pay extra your interest savings on that lower balance (paid with extra principal) is not recalculated till the 1st of the next month so your daily interest rate is still being charged at the balance you had on day 1 of this current month.

Jackson nailed the answer to your first question.A HELOC is a line of credit using real estate as collateral.A credit card is a line using your credit as collateral (nothing).A business line of credit uses your business as collateral.A "PAL" or pledged asset line is a line of credit that uses your investments as collateral.Etc.All of them share in common that they are a line of credit; you draw what you need and only pay interest on what you use.Traditionally, lines of credit that have collateral are going to have much lower interest rates than those that don't, like credit cards, because in the event of default there is nothing to seize.

What you can do is take a line of credit loan with a jumbo loan if you own min: 5 properties  That is just the program your contact has, but there is no law or requirement to have 5 properties etc.

Is the settlement fee something I have to pay since it wasn't a line item listed in the contract for seller's title expenses?