Originally Posted by
The Bullwinkle
Your statement was "If I go to the bank and ask for a $1 million dollar loan on my $500,000 house, I'll be laughed out the door."
My advice for you to go to another bank was for you personally!
I could easily obtain loans for double the value of my house and I certainly wouldn't be laughed out the door, that's all I was saying.
it was an analogy...
the thread is about virgins finances, not mine
I don’t really own a $500,000 house, it was a crude example of virgins situation, im sorry you’re confused
my understanding of the home loan system is that you can only borrow 80% of the value of the house, without mortgage insurance.
Is my understanding wrong or are you just gloating about your personal finances?