Let’s say I bought a house in 2016 for 150k. I’ve paid down to 120k. I currently have 30k “in” the house. Since the housing market explosion, my house is now worth 250k.
Does the HELOC formula use the value of my mortgage or the value of the house to determine the credit line?
If your house is worth $250k, then 80% LTV = $204,000
204,000 – $120,000 (current mortgage balance) = $84,000 available for HELOC
Different lenders use different LTV percentages but 80% is common
>Does the HELOC formula use the value of my mortgage or the value of the house to determine the credit line?
Both.
HELOCs generally go up to 80% LTV.
So your current mortgage + whatever LOC they give you can add up to 80% (or 90 or 95% or whatever the lender’s LTV limit is) of your homes appraised value
Good info and right to the point. I am not sure if this is really the best place to ask but do you people have any ideea where to get some professional writers? Thx 🙂
Well I really enjoyed studying it. This subject offered by you is very useful for accurate planning.
I discovered your weblog website on google and check a few of your early posts. Proceed to maintain up the very good operate. I just additional up your RSS feed to my MSN News Reader. In search of ahead to studying more from you afterward!…
great article . check out datatoleas.com
You might be thinking that vitamins are only needed for healthy people, but the truth is you can’t live without them. Most of your body’s nutrients come from food–and if they don’t exist in what we eat then their absence will show up as an illness or deficiency later on down the road!
As people age, their bodies change and they may require different types of care. It is important for seniors to maintain good health by staying up-to-date on their vaccinations and seeing a doctor regularly.
If you are like most people, you probably take medication from time to time. Whether it is for a chronic condition or something that flares up occasionally, it is important to make sure you stay on top of your medication schedule.
Medication management is an important task for seniors. As we get older, our bodies change and our medications can become less effective – or even dangerous.
Health Insurance Sales Leads, Life Insurance Sales Leads, Insurance Leads from https://www.datatoleads.com -/
If you would like to improve your experience simply keep visiting this web page and be updated with the most recent information posted here.