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Crazy Flamer · 11-03-2006, 11:20 AM

Any bankers out there?

I want to use the equity in my home to do some investing, but I don't know if I can. I bought my home in May of this year or $333,500 and put the typical 5% down. Right now similar homes in my area are going for $380,000, some even more. Let's say, for arguements sake, my house is worth $380,000.

Do I have enough equity built into that house to take a home equity line of credit? If so, how much? I also co-own the property with my girlfriend, would she have to sign off on the loan too?

Any adive you can give would be great! Thanks!

11-03-2006, 11:20 AM	#1
Crazy Flamer First Line Centre Join Date: Nov 2003 Exp:	Home Equity Any bankers out there? I want to use the equity in my home to do some investing, but I don't know if I can. I bought my home in May of this year or $333,500 and put the typical 5% down. Right now similar homes in my area are going for $380,000, some even more. Let's say, for arguements sake, my house is worth $380,000. Do I have enough equity built into that house to take a home equity line of credit? If so, how much? I also co-own the property with my girlfriend, would she have to sign off on the loan too? Any adive you can give would be great! Thanks! __________________ Bleeding the Flaming C!!!