My LTV is 100% but my home will sell at $125K more than my mortgage. How to tap my equity??

Makes no sense...how can you be at 100% LTV yet have $125k in equity?

3 ways to "Tap That Equity"... 1), sell your home, you walk away with your net proceeds... 2) Refinance you home as a "Cash Out" transaction... typically lenders will go 80% loan to value, so by this method, you could potentially pull out about $50K.. ($380K value x 80%= $304K)... 3) you could apply for a home equity line of credit.. But you're in Florida!! Bad thing.. Most lenders offering HELOC's are limiting the LTV to 75%... however it's probably your best option.. You apply once, and you have unlimited use of the equity without having to re qualify each time you need to "Tap That Equity".. Your local bank or credit union will be the best source for HELOC's, and the local mortgage broker would be your best bet for a cash out refinance.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Sure. If your current interest rate is above 4.25%, a cash-out refinance is probably the way to go. This will allow you to tap into the equity you are looking for and lock in a below 4 interest rate on all of it. Contact a local Mortgage Banker/Broker and have them work through the numbers for you. If your current rate is already below 4, then contact a local Community Bank and apply for a Home Equity Line of Credit, or an Equity loan (second mortgage). Rates on the HELOC are adjustable and will rise over time. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Your stated math does not equate. One cannot have a 100%LTV loan and the property will sell above the mortgage's principal balance used to calculate the 100% LTV.

I think we need more details to answer your question. How much to you owe and the value of your home?

If you are at 100% loan-to-value, how can there be $125k more available?

Need more info since the numbers just do not work out.

If you do in fact have equity in your home , I would suggest calling a local credit union. Many credit unions still do lines of credit.

Home Equity loans are generally available for most people up to about 90% of today's appraised value. Contact a local lender, give them an application, and see what you qualify for.

Give me a call I can help you 863-698-4962...

Give me a call I will be happy to help you 863-698-4862 or email correa@compassmortgagellc.comHave a blessed day!

If you are selling your house, you will receive the proceeds from the sale.

You can either get a home equity loan from a mortgage lender that offers them or someplace like a credit union, which would allow you to get tap around $65K +. That will mean another loan and monthly payment. Or, you can do a cash out refinance up to about 85% of the home. Any loan will be based on a new appraisal of the house. There really isn't any other way to access the equity other than selling the home. Congratulations on being one of the few in FL that seem to have equity... We don't offer HELOC in FL but if you are interested in refinancing contact me 843.619.6025 or pdumouchel@primelending.com

THE only way is to do a refi , and get a valid appriasal, and remember, florida has all of the extra taxes put into your mortgage i have done a lot of loans in florida.. linda