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HELOC for Borrower w/PMI Insurance on Mortgage?

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Can a Home Equity Line of Credit be done for a borrower who has PMI insurance on their first mortgage?

I am really not sure of what the relationship might be? They are separate loans. If you are concerned about the total LTV on the property, that is a credit risk decision and possibly a State law issue.

First published on 09/08/2019

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