I am trying to get a home equity and don't want to have a bunch of inquiries. Equifax is my best score @ 662. I had a BK7 but it is over 7 years old and 2 paid chargeoffs. I don't want a HELOC if I can help it as I am looking to do a few home improvements before putting my house on the market and get pre approved for a new mortgage. Anyone else have someone that they used?
I'm not sure which CRA is used, but I read in a post here a while back that countrywide home loans will onl check one score when you go direct without a broker.
there are banks that pull all 3 and will use the Top Score as opposed to the middle score. Rates aint gonna be 5% though...
WHich banks? I only plan to have the loan for a short time, I am hoping to move this summer and it will be paid off.
I did have one broker tell me that he can get me a loan but closing cost are 1600.00 I don't think so!
hrmmm. you want a no closing costs loan, that is not a LOC but an installment??? i dunno. I am not sure the banks name, but I will find out for you. however, if your scores are subprime, and you dont want a prepay penalty cuz you want to pay it off soon, i dunno what to tell you... but then again, residential mortages are not my line of business...
Hi there, I don't know where you are, but in the southeast I know amsouth, commercial bank, citizens bank and first century all pull equifax. I think that you have to have a 680 for amsouth to do it, but the rates are top notch. You might want to try sun trust I hear they are more flexible.
Have you checked w/ any of your local banks? I'm in the south, so don't know any local banks in your area, but I'm doing the same thing. Getting a home equity loan for home improvements through a local bank: 6.5%, no closing costs, no prepayment penalty, pulls Equifax exclusively - need 641 to qualify. I checked w/ quite of few national lenders/banks and they either pulled all 3, had less flexible approval requirements, or terms were not as good as several of the local banks. Might be worth checking out - I actually went in person to several of the local banks and asked to speak w/ someone about their home equity loans so I could find out who they pulled, scoring requirements & kinda explained my "all the bad stuff is behind me & my home mortgage doesn't report so it's not as bad as it looks on my CR" situation. =)
So who did you end up deciding to go with at the 641 score? That's pretty liberal I'd say. What was the LTV? (Loan to value)
