topic Re: 95-100% ltv equity loans in Mortgage Loans

95-100% ltv equity loans

Anonymous — Wed, 05 Apr 2017 17:57:03 GMT

Do they exist?

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

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

Re: 95-100% ltv equity loans

ShanetheMortgageMan — Wed, 05 Apr 2017 18:17:50 GMT

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.

Re: 95-100% ltv equity loans

Anonymous — Wed, 05 Apr 2017 19:57:25 GMT

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.

Re: 95-100% ltv equity loans

Anonymous — Wed, 05 Apr 2017 19:59:27 GMT

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.

Re: 95-100% ltv equity loans

ShanetheMortgageMan — Thu, 06 Apr 2017 02:24:01 GMT

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

Re: 95-100% ltv equity loans

MauiMan85297 — Wed, 30 Aug 2017 19:52:56 GMT

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