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Sarah Martinez · Golden Key Realty
Can I borrow against the house?
What a lender would let you take out at a given combined loan-to-value, and roughly what that would cost per month.
How much equity can I use?
You could borrow up to about
$340,000
Equity you hold
$530,000
Loan-to-value now
44.2%
Interest-only cost
$2,408/mo
| Value today | $950,000 |
| Owed on all loans | −$420,000 |
| Equity | $530,000 |
| Lender's ceiling at 80% | $760,000 |
| Available to borrow | $340,000 |
| Interest-only payment on the full amountA line of credit's rate usually moves with prime | $2,408 |
Borrowing all of it would take you from 44% to 80% loan-to-value. Lenders also want income and credit to support the payment — the equity alone does not qualify you.
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