SoFI offers $100,000 loans to people who have a minimum 680 credit score. However, the interest rate on that loan ranges from 7 to 15 percent, which is higher than most HELOCs. At Bank of America,
HELOCs provide the flexibility of having access to cash, but not paying. home ltv*); Minimum monthly payment based on interest due for current balance.. your score and how you can influence and improve your credit score in the future.
Some lenders have minimum credit scores, such as a 620 FICO score, for their home equity loans. However, qualifying with the minimum credit score may not get you as good a rate as someone who has excellent credit. If you don’t meet one lender’s minimum credit requirement, you can still shop around and look for options from other lenders.
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