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Getting a home equity line of credit on an investment property isn't easy, but it is possible ” if you are in a good financial position and can find.
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Apply for a new Business Line of Credit and, upon credit approval, the annual fee is waived for the first year only. The annual fee of $95 (if line amount is $10,000-$25,000) or $175 (if line amount is more than $25,000) will be assessed on your anniversary month in subsequent years.
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Money on tap: Line of credit | Your Mortgage Australia – "If the line of credit is used for business purposes such as a commercial purchase or an investment property, that interest component is tax deductible, and this is an extremely cost-effective way of funding these types of transactions," Mohnacheff explains.