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Question DetailsAsked on 8/19/2013

i would like to get a home equity loan, my credit is @ 600.

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With a 600 score (FICO, I presume), as I am sure you realize you are not a prime lending candidate. However, for a home equity loan the standards are a lot lower than for a new home loan. However, your score will certainly affect your rate, and probably the percentage of equity they will loan to your - probably more like 50-60% or so rather than 80-90% of valuation.

Here is an article on your isssue -

http://www.prlog.org/11351318-factors...

You can find more by googling this search phrase - factors affecting home equity loans

Answered 6 years ago by LCD




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