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How much money can I borrow in a secured loan?
Answer:
The amount of money you can borrow depends on several factors. If you own your own home you can borrow up to one third of your net income but if you already have a mortgage on your home this will limit the amount that you can borrow. In this situation it usually depends on the equity you have in your home so that the lender will let you borrow the difference of the value of your home less the amount of the mortgage that you still owe.