95-100% ltv equity loans

[Anonymous]

Do they exist?

We owe $335,000, value is around $365-$370......

In a perfect world we take out around $25,000.

[ShanetheMortgageMan]

I know 95% does, not sure on 100%.  Excellent credit will be needed for either, expect minimum scores of 720-760, depending on the lender.

[Anonymous]

I recently applied and was approved for a home equity loan through a local credit union. They were willing to go up to 100% of the value as long as we were using the funds for home improvement, which for us it's for a pool. We owe $295,000 and our house appraised for $350,000. The idea is that once the home improvement project is done, your house will be worth even more.

If we wanted to take the money out for something else, they will only go up to 95% LTV.

Hope this helps.

[Anonymous]

I should also add my middle score was a 707 and my husband's was a 708. So the credit score requirements for my local credit union were not as strict as Shane is stating.

[ShanetheMortgageMan]

That's a pretty good deal with a 707 score.

[MauiMan85297]

NFCU does 100% but they bump the rate up a little, they are also less strict on score.