Posted on: 22nd Mar, 2011 04:28 pm
home equity loan on a nyc co-op apartment - have 117k equity, need 50k. would end up with 88% cltv. is this possible?
This would put my DTI at about .32 by the way
Hi myfutureselfandi,
You should have 20% equity in your property in order to get a home equity loan. Unless you've this equity in your property, you won't be able to qualify for any loan.
You should have 20% equity in your property in order to get a home equity loan. Unless you've this equity in your property, you won't be able to qualify for any loan.