You typically borrow up to 75-90 percent of the purchase price and 100 percent of the rehab costs.

Amy,You are smart to ask A LOT of questions about the borrower. 

I am looking to purchase a home with my sister in CA. We will both be on title and are planning to split costs and ownership evenly. \I intend to owner occupy the property while she will use it more as a second home. ...

Hi Eric, How much would you be looking to borrow in a second lien position? 

The borrower listed real property assets worth $76 million, and mortgage debt of $59 million.  

Hi @Chen Avnery, I spent years lendinging to commercial borrowers for commercial projects when I worked with banks then I got into funding developers and builders.

So, I borrowed the money from the person that stayed in my first house as she had just sold her house and made a fair amount of money off of it.

Just this morning I was working on a modification of a blanket construction deal where the borrower is building 3 new construction single family homes.

That's a method of borrowing so you can borrow.

However, rate would be prime + index + an additional +2% for the shock factor just to qualify, but you can draw the funds whenever you want vs cash out where you have to draw all the money after closing.Many borrowers would keep opening lines of credit, assuming you have the equity + income to qualify, as you keep rinsing and repeating the heloc process.