Reply: 2.1.1
From: Rolf Latham
Hiya Amy
Yes if that 100 k equity is accesible. For example
400 k property with 300 k loan has 100 k equity BUT only 80 of the total security amount is available without mortgage insurance, so .8 * 400 = 320 - 300 (existing loan amount) = 20 000.
Or at 90 %...