Does anyone know what score models are usually used for a HELOC? Bonus points if you know about PennFed specifically?
I recently asked this question of a number of credit unions (not PenFed though, sorry), and they all told me classic mortgage - EQ5, TU4, EX2.
HELOCs are all over the map because they don't have a secondary market set of standards by unlike a mortgage.
Surprised to hear Penfed uses EQ FICO 5 but on the other hand some lenders may just use a trimerge or similar to underwrite a HELOC too.