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Equity Line of Credit
as a rough estimate without having the full details you should be able to borrow up to 80% of the property valuations based on your income. Thanks for the replies. The reason for the possible income drop is that I am looking to leave my job to ramp up a work from home business. The...- jonmardell
- Post #6
- Forum: Property Finance
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J
Equity Line of Credit
the bank will not lower the LOC if your income drops. Is there a reason you think the income will drop in the future? My question is: are values of LOCs determined based on equity AND serviceability (current income), or just the equity ? What happens if in the future, the LOC facility is...- jonmardell
- Post #3
- Forum: Property Finance
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J
Equity Line of Credit
The line of credit application will be based on both the valuations of the properties and the income. You will need to be able to service the total debt limits. Is the 10k monthly income including rent from the IP?- jonmardell
- Post #2
- Forum: Property Finance