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can i get a equity loan if my credit score is 545

  • April 30 2010 - Columbia
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Answers (8)

@ Johnson Smith, a 2nd spam on the same thread? Are you actually getting hits on your payday loan links? Why dont you just pay Zillow for an AD like the Loansifter ad over to the right?>>>>>>>>>>>>>>>>>>>
  • June 29 2010
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This is a relatively low credit score. You can improve your credit rating by making all outstanding payments and dues. Gradually, your credit score will improve. A good credit score speaks your creditworthiness. With a good score, you are likely to get loans at lower interest rates. If you need the loan urgently, you may get one at relatively high interest rate.

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  • June 29 2010
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Johnson, why do you keep spamming the UK payday page? Do you charge an upfront fee to apply?

The fee we charge for paydayUK loans is the same for all customers. Our promise is: a £20 fee for every £80 you borrow using our payday instant loans service.

  • June 15 2010
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The credit score is pretty low. The lenders have a tendency to increase the credit score frequently. However, you may still find some options which may offer you large interest rates. If you can try and get your credit score increased by getting rid of any unpaid due, and improve your credit history, your chances of getting the equity loan sooner with a relatively greater credit and low interest rate are high.


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  • June 15 2010
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equity loans and lines of credit are hard enough these days with 700+ scores....

if you have plenty of equity in your house - say 50% - you may find a hard money lender but if so... proceed with caution....
  • May 07 2010
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Profile picture for Liberty Mortgage
HELOC's are hard enough to come by as it is-  Max equity would need to be around 70%-  In your case, even if you did have the equity a loan would not be possible based on the credit score-  Your only option-  ((I do not advise this route-)) would be a Hard Money loan where credit and income is not a factor-  The problem is max loan to value would be 50%-  i.e.-  if your home is worth $200K and you did not have a mortgage you could only get up to $100K-  Rates and fees are very high for this type of loan.  Again, only an option when you must get the cash-
  • April 30 2010
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I would advise going to your local bank or credit union that you have a pre-existing relationship with. It's still a very long shot, but I think it is you only shot. If you can get your credit up to 580, you may have a shot at a cash out FHA loan. You need to review your credit, find out why it is low and take the steps to get your score up. Sometimes, loans can be a multiple step process starting with credit repair.
  • April 30 2010
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not a traditional line of credit 

  • April 30 2010
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