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How Large of a Home Equity Loan Can I Get?

Determining the amount of equity in a home helps in determining how much money can be borrowed. Try using the same formula lenders use to determine your home equity. Equity is the difference between the fair market value of the property and the amount owed on loans and liens.

Interest rates for Home Equity Loans are based upon the loan to value ratio for the applicant’s home with 80% having the lowest loan interest  rate and 90% being higher. The loan to value also determines the maximum loan amount for a selected loan to value tier (80%, 90%). To determine  the available equity in each loan to value tier, multiply the value of the home by 80% or 90%, and then subtract the amount of any loans or  other liens. This will determine the amount of a loan available for the specific loan to value. 

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