Can using your home as collateral help you get a mortgage if you have a low credit score?My combined score is 602. mostly due to having only 2 credit cards with small limits. I own a paid off condo worth about 40-45,000$. Can I use it as collateral to get a mortgage on a new home. I plan on getting a house and putting condo up for rent. September 28 2010 - Charleston Heights00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.