minimum credit score after bankruptcy for a home equity loan

Most lenders want a 640 Minimum score. You may want to try a lender like Skowhegan Savings and ask them if they would portfolio the loan since the credit score is below what most secondary market lenders require. You can also try working with a mortgage professional who understands ways to bump up the credit score within 7 to 10 days. There are many simple ways to increase your FICO score. Good Luck!

BK discharged 2 years ago.. GOOD... Credit Score 632... OK.. Most lenders want 640 or above, but there are lenders out there who will go down to 620 or even 580. $1900 per month income...??? If this "Self Employed" income is supported by tax returns, meaning your "Adjusted Gross Income" will show $1900 per month, and your debt to income ratios are in line (keep in mind that if your spouse has any individual debt, it will be included into your debt for ratio purpose, however any income he has cannot be used if he is not on the loan) then you should be ok.. FHA cash out refinance is probably your best bet vs. a home equity line of credit.. The HELOC is an adjustable rate, has a draw period, and a payback period, so payments are really cheap upfront, but get really expensive on the back end.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. You should only settle for a WRITTEN quote, and from a reputable brokerage. 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