I would like to do a 125% LTV on my house. Just wanted to know if there’s such a thing?
My fico went down to 620 and my wife’s to 650. Both of us are working with higher than average income.
125%LTV refi’s are possible but rare…I believe you need “A” credit for it though since its a very risky refi for banks. Call around and you will find it, but i doubt there are many banks doing it…
For that low of a fico your looking at rates up in the 15% area. Must have lots of disposable income, no Foreclosures or NOD’s ever, no bankruptcy in last 10yrs, no lates on mortgage in last 2yrs and some other restrictions on lates on credit cards as well.