Rough numbers, I have $180,000 left on my mortgage and line of credit. My house is worth twice that amount at $375,000.
I wanted to see if I would be able to take $20,000 out from my equity on my house, either as a refinance, line of credit or 2nd mortgage.
Although most banks I've talked to have said with all that's going on with Covid, they're currently aren't supporting any new contracts that allow someone to take out equity. They are willing to refinance and re-do my mortgage but no cash out.
Plus I'm more interested in a program that would allow me to get $20,000 from my existing Equity. Would anyone have any recommendation on what programs or banks that would allow that is this current climate?