Posted by youngsterz on August 02, 2002 at 01:30:37:
I have recently done 3 90% LTV equity lines of credit on investment properties through Washington Mutual. Identical to a home equity line, but on a couple of fourplexes and a house. My first mortgages were at between 70% to 80%, so the credit line took me up to 90% combined. 30 year amortization, interest only payment, at prime plus 1.75%.
It’s a great loan product for pulling dead equity out of properties.
2nd mort on investment property - Posted by Sunita Lovina
Posted by Sunita Lovina on July 30, 2002 at 09:23:06:
i currently have an investment property with about 20,000 equity i would like to get a second mortgage and purchase another property but can’t find anyone to issue a 2nd on an investment property please advise. i would also like to refi my timeshare to get cash how to do this.
thank you
sunita
Re: 2nd mort on investment property - Posted by Shambhu Nath
Posted by Shambhu Nath on July 31, 2002 at 24:26:53:
IT is usually hard to get second mortgage on investment property unless the CLTV is less than 90(some like it at 80).
You may try to create your own note and sell it to investors.
Shambhu Nath