I have a low 500 credit score, and am looking for 25K second on top of 183K first. Have five investment condos, and want to do it on all five. Any ideas with that credit score? Currently at 75% LTV
You won’t qualify for a second in the low 500’s. your best bet to get that cash would be to refinance the whole thing and take some cashout. The LTV will be tight though and you might not be able to get the full 25k from each house. try to get your score up to the mid-upper 500’s and you should be able to get the full amount you’re looking for.