A friend just asked me to borrow money to pay her mortgage this month- she plans to take out a home equity loan to pay me back. She has only owned her house for two years, and I assume she would have only put 20% down. Will the bank allow her to borrow against that 20% or would it only be any appreciation in excess.
Posts Tagged ‘Have’
Do You Need To Have More Than 20% Home Equity To Borrow Against For A Home Equity Loan?
Saturday, May 23rd, 2009How Long Do You Have To Own A House Before You Can Get A Home Equity Loan?
Sunday, May 17th, 2009My husband and I are in the process of buying our first home. We got a great deal on the house at 1/2 the appraised value. How long do we have to own the house before we can take out a home equity loan on the home. We want the money to fix up some things in the house. Thanks!
