I am seeking advice on how to obtain a Home Equity Line against my primary residence. I have been rejected in the past. I was told that my DTI was too high for my Income because of existing debt on my home and one Investment property. However, my Primary Mortgage LTV is 31% and I have over $1,300,000 equity. The investment property clears about $800/month.
Does anyone have guidance on how I may tap into my equity for additional investments? If so, how much I can take out and at what interest rate? Thank you for your thoughts.
Any competent loan 👧 is going to ask how much income?
$150,000 yearly W2 income
Student debt of $500,000?.