@Anonymous wrote:
I just closed on a house two days ago and it needs some work done, about $15,000...what is the best way to pay for this work? There's no equity, so that's out. I have the money available on my credit cards, but I'm at about 40% UTI and I don't want to push that higher if I can help it. I'm considering a PLOC or Personal Loan with Navy Fed or NASA Fed, I'm a member of both. I've also thoguht about the SunTrust Lightstream Anything Loan, or even a Title I loan. Does anyone have any experience with this or the products I've named? How likely is it that I can get approved after just getting a new mortgage (its' with First Choice)? Any ideas are welcome! My current FICO numbers are 640/666/645. Thank you!!
For a small loan like the $15k, a PLOC is a good choice as long as you get a good rate and the terms are something you can handle. It is better than a loan secured by the property.
I haven't used the Lightstream loan, but see others in different parts of the forum have and they have good reviews. Check it out first with the people that have used that loan. Don't let them tie it to your home though.
