Property A: Value 360K. Mortgage 260K Property B: Purchase price 170K Lender cover 80%(136K) Lender cover 20%(34K) using equity from Property A. Is this scenario posible? Thanks in advance
I would suggest you call the office 561-221-0900 or visit us at www.Geltfinancial.com, we do blanket and cross collateralized mortgages all of the time, its hard to know say on this without knowing all of the details. But we do not calculate it the way you do in your example
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Property A: Value 360K. Mortgage 260K
Property B: Purchase price 170K
Lender cover 80%(136K)
Lender cover 20%(34K) using equity from Property A.
Is this scenario posible? Thanks in advance
I would suggest you call the office 561-221-0900 or visit us at www.Geltfinancial.com, we do blanket and cross collateralized mortgages all of the time, its hard to know say on this without knowing all of the details. But we do not calculate it the way you do in your example