State Of North Carolina. 2nd Lien. Current LTV 70%.
Hi, am in a bit of a situation. My finance has about $41k in outstanding CC Debt, with 89-92% Utl, 647 Middle Score, 662 Experian FICO 08, is her highest.
To make a long story short. I am about to complete a Refinance, combining her current first & second mortgage, into one fixed rate, and would like to get a Home Equity Loan or HELOC 2nd, a month or two afterwards. Here is the problem. I could just barely qualify by the skin of my teeth, for the loan in my name only, and the only way -- we were able to get decent pricing, is by leaving her off the loan altogether.
I'm hoping - with the Maxed out HELOC at 100% Util, and Mortgage being paid off, as well as a AU account or two, that I will be able to get her Scores into the low 680's. But even with those scores, I have to imagine, we will have a LOT of trouble finding an approval for a HELOC or Home Equity Loan at a Bank like Chase.
I was just wondering, if any LO's, or People in the industry, could spill names of Banks that tend to be a little more open minded. I think I'm going to approach PNC.
But I would love to have another bank to try, as well. I would like to get us to 85 or 90% LTV. And with the paid off debt, and combined income -- the DTI would be reasonable. It's just the current scores, I think, that kills the deal. There is also a 30 Day Late Mortgage Payment from July of 2017, but that's only on her credit, not mine.
Thanks in Advance.
