Posted on: 25th Aug, 2010 01:08 pm
I have some property paid off and was wanting a loan against the deed. Is that possible
Hi alvaradopete!
Welcome to forums!
As the property is free and clear, you will be able to secure a mortgage against it. However, in order to get a conventional mortgage, you would require a score of 700-720. Apart from this, you should have a stable financial situation and the required debt to income ratio.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the property is free and clear, you will be able to secure a mortgage against it. However, in order to get a conventional mortgage, you would require a score of 700-720. Apart from this, you should have a stable financial situation and the required debt to income ratio.
Feel free to ask if you've further queries.
Sussane