HEY i have heard that if you are looking to get a equity loan on a property there is no credit checks and your credit has not one thing to do with getting the loan
Is this true or not ?
As i have all so heard it has a big part in the loan ?
As well any one know of a good nationwide equity loan company that is fast and good ?
Your credit score plays the largest part in getting a home equity loan. It determines, first if you even meet minimum credit score guidelines for the program. Secondly, it determines the interest rate if you qualify. Your debt to income ratio will also be subject to analysis must meet the lenders guidelines to qualify. It is also very difficult to find a lender that will take second position on a loan in today’s market.