Want $30k for a home remodel without home equity

[CreditCuriosity]

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@cakkd wrote:

I went through the preliminaries with Disover (where I've had a CC for years) and got denied.

I don't owe on anything except my mortgage, the payment for which is 17% of my gross.

I opened up an IKEA Project card for $16k and another Comenity one for $8.5k. I wonder if just having those open affects how much I can borrow.

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They will tell you in AA letter probably inquiries would be my guess, but no clue how many you have.  Discover doesnt have that great of rates compared to others imho.

[glendazamot]

@cakkd 
awesome, we have two branches in Maryland. One is in Annapolis and can't really recall where's the other one. If you are close feel free to stop by to put in a referral to my name, Glenda Zamot. 

Minimum credit score required is 700. We only use EQ. DTI must be under 43%. 

[glendazamot]

@Harvey26 

We only use Equifax, 700 credit score needed.

[Harvey26]

@glendazamot Thank you so much for this info I spoke to someone in a branch in my area she said Experian but could have been mistaken and moms credit scores are all over 750 so no worries there

[TravelNut]

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@tcbofade wrote:

@cakkd, if it helps you any, I just borrowed $20k from PenFed at 6.49% for five years.  (Personal loan)

@Aim_High, in your case, I would think refinance the entire mortgage and take cash out now while rates are low.

Good luck to both!

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@tcbofade Did Penfed use their Internal Equifax Score to qualify you with a soft pull?  What was your score if you don't mind providing?  I imagine you are 740+ becasue that is their best advertised rate for PL's

[tcbofade]

My EQ9 score was 773 at the time of the application which I believe is the score that they use.

I can not verify a soft pull because I proceeded with the application and took the HP.  (Also picked up a Gold card and received a total of ONE hard pull on my EQ file.)

Hope that helps!

[TravelNut]

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@tcbofade wrote:

My EQ9 score was 773 at the time of the application which I believe is the score that they use.

I can not verify a soft pull because I proceeded with the application and took the HP.  (Also picked up a Gold card and received a total of ONE hard pull on my EQ file.)

Hope that helps!

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@tcbofade Very nice, thanks for the info!!!

[Creditfan1234]

BECU offers a home remodel loan that is similar to a personal loan, if you are within their FOM regions and membership 

[cakkd]

Thanks for all the recs everyone. I momentarily forgot how pleasant it is to have no debt except for my mortgage, and hope to keep it that way.

Thus, I'm going to pay as I go. First, the bathroom next month. Then, I'll start saving for the kitchen.