Remaining Loan is less than 100K
4 Replies
Maggie Carver
posted 8 months ago
if the loan is less than 100k, it gets difficult to refinance due to state regulations, even when there is substantial equity. Do you have any suggestions for how to use your equity in an investment property, when taking out cash through refinancing is not feasible? Thank you!
Mike S.
Investor from Broward County, FL
replied 8 months ago
Originally posted by @Maggie Carver :if the loan is less than 100k, it gets difficult to refinance due to state regulations, even when there is substantial equity. Do you have any suggestions for how to use your equity in an investment property, when taking out cash through refinancing is not feasible? Thank you!
You can look at adding an equity Line of Credit to your current mortgage.
Maggie Carver
replied 8 months ago
@Mike S. Thanks.
Harjeet Bhatti
Lender from Chicago IL- CDLP
replied 8 months ago
@Maggie Carver Most of the banks and credit unions do not have lower loan amount restrictions.
Maggie Carver
replied 7 months ago
@Harjeet Bhatti thank you!