Anonymous Posted June 9, 2003 Report Share Posted June 9, 2003 I pulled my fico scores from Myfico.com and this is what I have Experian 645 Transunion 643 Equifax 663 Have a BK that comes off in 10/2006 and two charge offs/included in bk that come off 9/2003. I have a home loan at 7.5% with a balance 207,000. I have had this house for 14 months with no lates. the house was appraised last year when I bought it for 255,000. I have done alot of improvements to the house and houses in the area are selling for 310,000. and up. I would like to refiance the house and get a equity line of credit of about 40K to 50K. Do you think I can do it with these scores? do you think I should go with someone like ditech? Please help! Thanks George Link to comment Share on other sites More sharing options...
laura66 Posted June 9, 2003 Report Share Posted June 9, 2003 I am by no means an expert, but from what I understand, you can usually get the best rates if you have a score of at least 660. This would be on a full-doc conventional loan. I understand that they pull all 3 scores, and use the MIDDLE score. That doesn't by any means preclude you from getting a better rate that 7.5%. However, I read another post to you by KB in another thread, asking if you could wait until you could bump some items or until they expire; very good advice (KB ALWAYS has good advice ). If a few months could get you into an even BETTER risk group, it's probably worth the wait. From what I've been told, the interest rates for subprime mortgages don't vary quite as much as the A paper loans. Link to comment Share on other sites More sharing options...
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