530 credit score
530 credit score
Hello
I have about about 150K of equity in my house but have a low credit score due to problems in teh past. I have not been late for over 12 months on payments and my obligations are very low due to settlements with debtors. Where could I go to get a loan secured against my house
111 Answers
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You would at least need a credit score of 700 in order to get a secured loan. Opt for credit repair.
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To know more about credit repair, you can check out the given page: http://www.mortgagefit.com/credit-rating/credit-repair.html .
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Since your credit score is 530, you will not be eligible for a conventional loan. However, if you want, you may take out FHA loan. The best thing you can do is to improve your credit score before you may apply for a loan so as to avoid loan rejection.
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