i have poor credit 557 but i own my house outright. can i get a home equity loan to consolidate my debt into one payment?

The lower the score the more it will cost you if you do get financed.. Most lenders will require a 640 or above.. As you go below that score, your options start to decline... with a 557, your only choice in most cases is a hard money loan.. Very risky, very expensive, and usually have a balloon payment in 3 to 5 years.. Your far better off working on improving your credit than signing up for one of these types of loans.. most lenders that say they go down to 500 or 540 scores do actually have that program, but very, very few actually get approved... the guidelines are so strict that most who apply don't get accepted... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

I would be happy to review your credit and provide you with a few sources to get your own credit reports for free, so reply back directly through this site and let me know if you are interested and I'll let you know where to get these reports! Based on your credit score, there is no current Equity Loan or even First Mortgage that will work. There are minimum credit scores for each loan product. I'm sure we can find ways to improve your score quickly. I'm happy to be of help and I can originate loans in all 50 States! Thank you!

Please, DO NOT use one of those free credit report sites. In exchange for them giving you a copy of the report, you give them permission to sell your information to lenders who will likely not want to help you because of your scores. Your best bet is to reach out to a local community bank or Credit Union. Tell them what it is you want to do, and it is possible that they will work with you to pay those creditors out of escrow. A lot of it will depend on what the make-up of your credit report is, and not just the score. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Sorry, but that credit score is going to make things difficult. Because of your good equity position, you may have a chance with a very limited number of lenders. www.wi-mortgage broker.com

You will need to get your scores up to be able to try that. There are many ways to improve your credit but you will first want to get your credit report through one of the free companies you see advertised. Then you need to go over your credit with a professional that can give correct advise on how to improve your credit. In some cases depending on your challenges it may be beneficial to use a credit repair expert which we can help you with.

We will require 620+

We are a direct Lender in 15 states including your state (WI) that can cash out up to 70% with scores as low as 540 on a FHA or VA loan program, the problem is that the Investor we use that allows us to fund with scores as low as 540 isn't licensed in that state. So we would need a 580+ credit score to use another of our Investors to help accomplish your Goal.. If you would like to open dialogue via email please contact us @ jlechuga@directorsfg.com and we could review your situation and see what it would take to get your scores up to at least 580+ this loan will require 2 yrs tax returns and can not exceed a 45% Debt To Income ratios up to 70% Loan To Value & Combined Loan to value CLTV...thank you

In most cases you need to have a higher score and good credit, but you can alway look at doing a mortgage with a private mortgage lender.

That low of a credit score will make it very difficult to get financing and if you are able to get approved with a lender you will likely have to pay a very high interest rate. Most lenders will look for a score 640 or higher, so trying to bring your credit score up before applying is probably your best bet.

I would try calling around to some of the banks nearby you. If you have enough equity after what you are looking to have advanced,they may be able to work with you. Also if you have a depository relationship with them, that may make it easier to lend.

Can i get a HELOC LOAN

My home is paid for. My score is 640, i think. I need a loan and use my house as collateral. Ehat companies can help me?