Home > Case Study, Construction, HELOC, Remodel > Case Study – HELOC on new Primary Residence for Remodel (Brooklyn, New York)

Case Study – HELOC on new Primary Residence for Remodel (Brooklyn, New York)

OPPORTUNITY: Having tapped out equity in purchased new primary residence, request for construction financing to remodel duplex into single family residence.

SOLUTION: HELOC. GIVEN LOW COST OF CONSTRUCTION/REMODEL, CREDITLINE BASED ON ‘AS COMPLETED’ VALUE OF $2,045,000.

Value: $1,500,000

Mortgage: $1,100,000

LINE OF CREDIT: $300,000

CASE CLOSED

If you have a similar case, or question, please e-mail me on ceisaac@ymail.com

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