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my credit score is a 584 where can i get a home equity loan chase bank has turn me down

how do i apply for the home equity loan? by berich_128_467 from Hammond, Louisiana. Apr 24th 2012 Reply


Sara Deere (Mortgagequeen2)
#16 ranked lender in Missouri - 584 contributions

Are you 62 years or older, because if so I can help you.

Apr 24th 2012
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John Cannata (TexasLoanGuy)
#117 ranked lender in Texas - 4 contributions

I am not sure there is a company that will lend you a 'Home Equity' loan with a credit score of 584. If you are over the age of 62, you may be able to qualify for a Reverse Mortgage (depending on the equity in your home). A Reverse Mortgage can be done no matter what your credit score is.

Apr 24th 2012
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Jeff Cost (midwestlender)
#39 ranked lender in Ohio - 164 contributions

No.

Apr 24th 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Your credit score is not high enough to get any type of loan... first or 2nd.. however, if you are 62 years or older, you can qualify for a reverse mortgage... with a reverse mortgage, you can either eliminate your monthly payment, or possibly receive a lump sum cash payment and/or monthly payments, or a combination of the two... 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.. 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

Apr 24th 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,827 contributions

The WHY your score is so low is more important than what you score is. Work with a local Mortgage Banker/Broker to review your credit to see what simple steps you can take to get your score where it needs to be to qualify for financing. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Apr 24th 2012
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