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How Much Can I Borrow?

The amount you can get on a home equity line of credit depends on several factors in addition to the amount of equity you have in the house. These include the policies of the lender, your credit rating, your income, and sometimes the age and location of your house. The amount of the credit line is sometimes expressed as a percentage of the home value. For example, if a lender advertises “Borrow up to 95% of your home value,” here’s what it means.

  1. Take 95% of the house’s appraised value.

  2. Subtract the amount owed on the primary mortgage.

  3. The result is the amount of the equity line.


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