Q&A: I need a NO credit check, NO Docs, Home Equity Loan. I own my house (no leins) and only want 80% Loan To Value

Posted on Oct 7, 2012 in Stated Income Loans

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Question by Tommy Lee: I need a NO credit check, ask NO Docs, pill Home Equity Loan. I own my house (no leins) and only want 80% Loan To Value
I am tired of online mortgage sites promising no docs no credit check loans and not really being anything but regular standard lenders. I have a ton of equity in my 4 year old paid-off home. I wish to get 80% of the appraised value in a home equity loan. I work for myself and much of my income is not reported. I have been divorced and my credit score is bad. I do own the house though and wish to use that equity. Please only answer with a real solution. Predator lenders need not bother me with empty promises and credit card lending rates on a secured home mortgage/equity loan. It needs to be a lender that can operate in South Carolia as well. This is a house, visit web 2 story frame built house 2168 sq feet heated. 2.5 baths and a 2 car garage all on a .51 acre lot. Thank You Very Much!

Best answer:

Answer by tjnw79
This isn’t probably what you want to hear but what about taking out small signature loans first and paying them off in six months for a year or two to bring your credit score up.

What do you think? Answer below!

5avg.rating 10 votes.

One Comment

  1. Do not use signature loans to “build your credit”. Use a creedit card and pay the balance off. I think a NO Credit Check AND NO doc loan will be very expensive if it is available at all.