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Home Equity Loan/HELOC score requirements?

Frequent Contributor

Home Equity Loan/HELOC score requirements?

HI all,


Are the credit score requirements for a home equity loan and/or HELOC the same as the requirements for a first mortgage on a house? In other words, do lenders take the middle score from all 3 bureaus, and does that middle score have to be a 620? Further, if two people are applying for the home equity loan, would the person with the lower middle score be the basis for the loan/HELOC?


My SO and I are looking to apply for one of these, but my SO's credit scores are low (middle score is just over 580). The score the CU normally pulls for any credit products is Experian which is my SO's highest score. My middle score is at least a 629. The mortgage is in my SO's name but we currently live together and since my scores are better we would want my scores taken into consideration if possible (as a co-signer?).


A little clueless to all of this and don't want to go down that road if it's not possible since my SO's scores are all below 620.


Thank you all!

FICO 8: EQ 784 / TU 786 / EX 791
FICO 9: EQ 797 / TU 797 / EX 793

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