Jump to content

Home Improvement Loan (Little/No Equity)


HelpFixMyCredit
 Share

Recommended Posts

You will stand a bettr chance on getting a HELOC. Your credit scores are adequate for doing so. This will be the best way to get access to your equity, without being charged a disproportionate fee to refinance the great interest rate you already have. Refinance costs would eat up almost half of your equity. HELOC's are less costly.

I know everyone is goig to blast me on this. "Yeah, but a HELOC works like a credit card and the high ratio will lower your credit score because of the utilization factor, but I found a lender that we have always had, and they have a super nice option available.

Please tell me you are not from Texas. If so, I do not think they will let you get a cashout refinance for over 85% LTV.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.