Bank of America gave me two investment property home equity loans in 2006. Stated income, credit scores and property appraisal were all that I needed -- No tax returns, no financial statements.
Because I was using an investment property to secure the LOC, the credit line was capped at $100K or 80% CLTV, whichever was lower. Each credit line has a 15 year life.
I have no idea whether BoA has chenged their qualifying criteria since I got my credit lines.[ Edited by NewKidInTown3 on Date 01/06/2008 ]
Comments(0)
Bank of America gave me two investment property home equity loans in 2006. Stated income, credit scores and property appraisal were all that I needed -- No tax returns, no financial statements.
Because I was using an investment property to secure the LOC, the credit line was capped at $100K or 80% CLTV, whichever was lower. Each credit line has a 15 year life.
I have no idea whether BoA has chenged their qualifying criteria since I got my credit lines.[ Edited by NewKidInTown3 on Date 01/06/2008 ]