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The Watercooler
Goodness Gracious Alive....our Gov't and mortages in 2012...Whine!
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<blockquote data-quote="InsaneCdn" data-source="post: 557873" data-attributes="member: 11791"><p>DDD... </p><p>Any chance he could get a homeowners line of credit on a house he just bought?</p><p>It's one way they get around the "mortgage" limits here.</p><p></p><p>E.g. pay $25,000 down, and get a $15,000 HLOC on the house... (and use the othe 5 grand for furniture and whatever)... depending on what you have to pay for the house? Here, they will give you up to 50% of what you paid for the house, to a max of 100 grand if your income supports the payments...</p></blockquote><p></p>
[QUOTE="InsaneCdn, post: 557873, member: 11791"] DDD... Any chance he could get a homeowners line of credit on a house he just bought? It's one way they get around the "mortgage" limits here. E.g. pay $25,000 down, and get a $15,000 HLOC on the house... (and use the othe 5 grand for furniture and whatever)... depending on what you have to pay for the house? Here, they will give you up to 50% of what you paid for the house, to a max of 100 grand if your income supports the payments... [/QUOTE]
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Goodness Gracious Alive....our Gov't and mortages in 2012...Whine!
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