Mortgage financing help

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Mortgage financing help

jameshogg

Posted on: 04th Jun, 2013 04:41 pm

In buying a home that appraises for 170 I have an accepted offer for 90k. Chase will only loan the purchase price. What lender will allow me to borrow 125k that still leaves 45k in equity. I'd like the extra cash for updates. Help

Total Reply : 2

hi lamar,

if there is equity in the property, then you can refinance the loan and get a cash out and use the money for home improvement or paying off your other bills.

thanks

jameshogg

Posted on: 04th Jun, 2013 07:31 pm

Hi Lamar!

Welcome to the forums!

You may have to take out a second loan in order to get a cash out.

Sussane

smith.sussane

Posted on: 05th Jun, 2013 09:20 pm

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