Posted on: 27th Apr, 2009 08:09 am
what are the normal qualifications to get a home equity loan for debt consolidation?...approximate home value $270,000.00, 1st mortgage balance is $192,802. need approximately $27,000 to payoff unsecured debt. i have a few slow pays showing up on my credit report, but everything is current now. credit score should be in the area of 640. are there lenders out there who would do this home equity loan? if so at what approximate rate? will they finance for 15 yrs?
Hi SANDY,
With the credit score that you have mentioned, I think you will be able to get a home equity loan. You can contact your current lender and check out if he will be able to offer you a home equity loan or not. You can also speak to few other lenders and check out the type of rates and terms they are offering.
This community also has a large number of lenders. You can seek a no obligation free loan quote from them. This will help you know the type of rates and terms you may receive.
With the credit score that you have mentioned, I think you will be able to get a home equity loan. You can contact your current lender and check out if he will be able to offer you a home equity loan or not. You can also speak to few other lenders and check out the type of rates and terms they are offering.
This community also has a large number of lenders. You can seek a no obligation free loan quote from them. This will help you know the type of rates and terms you may receive.