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FICO score models for a HELOC?

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Mammabear
New Visitor

FICO score models for a HELOC?

Does anyone know what score models are usually used for a HELOC? Bonus points if you know about PennFed specifically?

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3 REPLIES 3
jasonbourne84
Frequent Contributor

Re: FICO score models for a HELOC?

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. 


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SA0012
New Contributor

Re: FICO score models for a HELOC?

I recently applied for HELOC at penfed and they pulled EQ5

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Revelate
Moderator Emeritus

Re: FICO score models for a HELOC?

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.




        
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