Profile picture for JulieWheeler19

I own my house without a mortgage payment I would now like to do some updates can I get a heloc?

I paid off my mortgage over 2 years ago. I recently was diagnosed with myotonic dystrophy and have many different updates that need to be completed before winter. I currently am not working however my fiance and my son are recieving an income of more than tw times the amount of the monthly bills
  • September 25 2013 - Whiteville
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Answers (3)

Good afternoon, Julie:
I suggest that you talk to a mortgage banker to find out what they are willing to do for you.
1) I would start with these NC housing resources for the disabled.
2) I would also contact Self-Help Housing and make an appointment to meet with them. They have access to a broad variety of programs and financing sources including Ventures in Homeownership.
3) The North Carolina Housing Agency offers programs to assist
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  • October 03 2013
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Dave is correct, the lender will require income to show that the loan can be repaid.  Starting with your current bank is a good place to start but definitely shop around.  Most often there is another lender out there besides where you have your bank accounts that can get you better interest rates and closing costs on a loan.
  • September 25 2013
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Profile picture for daveskow

lender  will require income from applicant ....

if son and fiance are on the homes  title...this should be OK
try contacting the bank you have your checking and savings accounts with  as a first step  to find out what options you have with your  income  scenario

next option would be to contact the smaller local banks and credit unions in your area


hope this helps

  • September 25 2013
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