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Financing, Mortgages and Insurance What options are best for you and your situation?

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Old 2015-04-10, 02:30 PM
WellThatsLovely WellThatsLovely is offline
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Default What's the calculation banks use for income:max loan?

Out of curiosity, assuming someone had a $10,000,000 principal residence with no mortgage and they wanted to take out a HELOC, what is the calculation that is used to determine the maximum amount the homeowner would be qualified for based on income?
PS I don't own a $10,000,000 house, just using that number to save people time on warning against over borrowing
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