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View Full Version : Looking to borrow against my home that is paid off. However my crdit is not that good


ajscorp1
Oct 17, 2013, 09:26 AM
Looking into borrowing against my home that is paid

odinn7
Oct 17, 2013, 09:27 AM
Have you talked to anyone at a bank?

tickle
Oct 17, 2013, 10:34 AM
If you have a good amount of equity in your home, go the bank that holds your mortgage

ScottGem
Oct 17, 2013, 12:32 PM
If the home is free and clear, your credit history will have little bearing on a secured loan.

Fr_Chuck
Oct 18, 2013, 03:40 AM
The issue will be how much do you want to borrow, and if you have resource to pay it off. If your home is worth 200,000 and you want to borrow 50,000 to maybe 100,000 you should be able to. But banks do not want houses, they want money paid back. So proof you can pay, or poor that house can be sold at discount and they still get money back