Primary residence refinance question

2 Replies

Hello all,

  I am in the process of refinancing my primary residence to use the equity for an investment property and I was wondering what is the typical equity required, on your primary residence, to be able and secure an additional loan for said investment property. Any help would be much appreciated...

@Ernesto Correa . This depends highly on what area of the country in which you live and what banks are available. Typically the most you can get from a traditional bank is 80% LTV. However, some credit unions and community banks in certain areas of the country are willing to go up to 85% or even 90% LTV.

My recommendation is to look up community banks and credit unions in your area then go to the rates page. Often times on the rates page it will say the LTV of the rate and then you can just assume the greatest LTV is the most they will loan to. The higher the LTV the higher the interest rate.