quote:Originally posted by papacraner I really need to tap some cash for much needed home improvements and a few other issues. My credit score today is 603. I owe $ 67,000 on a home worth $ 130,000, household income is approx $ 63,000/yr. With loan requirements so strict today should I even bother applying for a HELOC or loan.....and if it's not impossible for me to be approved...where?
Appreciate any input......oh....I did just refi my mortgage from 6.75% to 3.75%.
It does not matter how much you have on your mortgage. Loan to value is how they establish your credit limit for the HELOC.