I am looking to secure a line of credit on my investment property. It has an investment mortgage ( notated on banking website). I do not know how that works since it is not my primary home. I know there has been a fr...

Maybe I should apply and find out.

I will only speak for our market but, figure most would apply elsewhere too. 

It works a little different here, but I have to maintain good standing for 3 month in order to apply for my contracting license with the city. 

If wallpaper was applied directly to unfinished sheet rock/drywall it may be cheaper to cut out the drywall and replace it. 

I first applied to wells fargo when I only had two properties and they gave me a nice 50k loc now that they are closing, I'm afraid I keep getting denied.

When I first applied I estimated my home value at 390k which would give me a line of credit of 62k at an 80% loan to value ratio. (390k x 0.8 - mortgage balance)The appraisal came back at 420k which great news however when I requested that the limit be moved up to 80% LTV of the appraisal amount (86k) I was told that the loan commitment had already expired so in order to get up to 86k it would need to be a new application and also I would not get the promotional interest rate of 1.99% for the first year.

View report*This link comes directly from our calculators, based on information input by the member who posted.Hello All,I am a newbie trying to learn more about the BRRRR method and applying the principles towards a real project.

If you have the FICO you could apply for a HELOC after you close, but it will be full doc.

Yea, you shop around….a preapproval doesn’t guarantee you a rate anyway as they don’t know when you’ll actually Apply for a loan.