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Updated over 10 years ago on . Most recent reply

Donald Hendricks's profile image
Donald Hendricks's profile image
Donald Hendricks
  • Investor
  • from Clarksville, Indiana
  • Member since Oct 7, 2012
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226
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Donald Hendricks's profile image
Donald Hendricks's profile image
Donald Hendricks
  • Investor
  • from Clarksville, Indiana
  • Member since Oct 7, 2012
Connect
Donald Hendricks
  • Investor
  • Clarksville, IN
96
Votes |
226
Posts
Private Lending & Conventional Mortgage Advice

Explain mortgage math to me

Donald Hendricks
  • Investor
  • Clarksville, IN
Posted

How is that the lender says you can cash out refi at 70% LTV on a $120,000 house with an $11,206 balance due on the original loan, plus $1793.79 in fees equals a cash payout of $48,999.79. The math doesn't work in my simple mind.

My math says where the hell is the rest of the money.

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