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If it is with the same bank/financier then - Yes (Depending on how much loan you already have and how much collateral you have provided)
Ex: Lets say you have a bank CD of $100,000/- as a collateral for a loan of $50,000 then the bank may give you extra loan against that CD. But if you already have a loan of $150,000 then the bank may not give you any further loans on the same collateral
If with a different bank/financier then - No. If you provide something as collateral you need to submit the original docs to the bank. So any other bank may not grant you loans on that collateral.
What else can I help you with?
What is a collateralized loan?
when i was born so on July 30 1997
What are collateralized loan obligations?
Collateralized loan obligations occur when loans to several companies are polled/lumped together and passed on as an instrument. They function to minimize loss with "good" loans lumped with "bad" to make for a more balanced product.
How do you spell colateral?
The correct spelling is "collateral" (additional or unintended, or property pledged for a loan).
What is the process for porting a loan to a new property?
Porting a loan to a new property involves transferring an existing mortgage from one property to another. This process typically requires approval from the lender, an assessment of the new property's value, and may involve additional fees or adjustments to the loan terms.
What are the differences between a jumbo loan and a second mortgage?
A jumbo loan is a type of mortgage that exceeds the limits set by government-sponsored entities, while a second mortgage is an additional loan taken out on a property that already has a primary mortgage. Jumbo loans are typically used for high-priced properties, while second mortgages are used to access the equity in a property.
Can you get a home equity line of credit to buy a home?
No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.
Can you borrow on a life insurance policy if you already have a loan on that same policy?
If the policy has additional cash value, an additional loan is usally permitted, up to a certain % of the total cash value.
What are the requirements for obtaining a foreign property loan?
To obtain a foreign property loan, you typically need a good credit score, stable income, a down payment, and may be required to provide additional documentation such as proof of income, employment, and the property's value.
Will lender approve loan if 1st mortgage is upside down?
No; there needs to be equity in your property before you can borrow additional money.
What is the meaning of the term property refinance?
The meaning of the term property refinancing is when a person or a business takes out a loan on property already owned. There are many reasons to do this including getting income quickly.
What would be the charge of a bank on the property if on the same property multi financing had been done?
If there is "multi-financing" on the property already the new lender would only loan more money if there is enough equity in the property to justify the loan. You would need to consult with a lender to determine what the fees would be in your area.
What is a loan when you buy a property?
The loan to buy a property is known as a mortgage.
