Equity Home Loans

need a home equity loan home equity 300,000 credit score 560?

My friend has a equity in his home $300,000 but his credit score is 560. He wants her daughter to take the equity loan but she is not in the deed.

Public Comments

1. HELOCs under 660ish just simply dont exist anymore these days. Sorry bud. It is possible to put a co-signer on the mortgage if the co-signer has good credit and a good work history. Have your friend email me to discuss further... Its also possible to do a refinance to get access to the cash quicker...
2. Tell him to re-think that plan. $300,000 is a lot to take out against a house. Even if she gets 30 years to pay it back, its going to be a big payment each and every month. For most people that's more debt than they can handle. Can he wait that long? AND can she make those payments??
3. He can access the equity and add her to the deed. A good loan officer can steer him through the process. I suggest Hometown Banc Corp. My mom used them. They may be your best opportunity for someone to say yes. If your credit does not measure up, they don’t simply “forget to call you back.” They help you get into a credit repair program you can afford regardless of income. Check out the free evaluation form at www.totaldebtsolutionsllc.com and a Hometown loan officer will contact you .