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Looking for a heloc amount of 170,000. DTI is high at 47% and CLTV up to 90%. Mid score is 684. Does anyone know who offers this for property in CT?

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rated:
I doubt anyone has offered such a product since 2007.

rated:
og2 said:   Looking for a heloc amount of 170,000. DTI is high at 47% and CLTV up to 90%. Mid score is 684. Does anyone know who offers this for property in CT?
  
With those figures I dont' think anyone will offer that in the whole US.

rated:
Under 700 - Bad
DTI 47% - Bad
Current Loan to Value 90% - Really Bad

If you do get a heloc, expect 25% interest rates and two guys named Guido and Nunzio to pay you visits to make payments.

rated:
forbin4040 said:   Under 700 - Bad
DTI 47% - Bad
Current Loan to Value 90% - Really Bad

If you do get a heloc, expect 25% interest rates and two guys named Guido and Nunzio to pay you visits to make payments.

Silvio Dante and Christopher Moltisanti are on their way over now.

rated:
og2 said:   Looking for a heloc amount of 170,000. DTI is high at 47% and CLTV up to 90%. Mid score is 684. Does anyone know who offers this for property in CT?


You can get 90% HELOC easy enough and your credit score likely would mean higher rate.....but think your DTI is the big hangup.

rated:
forbin4040 said:   Under 700 - Bad
DTI 47% - Bad
Current Loan to Value 90% - Really Bad

If you do get a heloc, expect 25% interest rates and two guys named Guido and Nunzio to pay you visits to make payments.



90% CLTV HELOCs (combined LTV, not current) aren't difficult. I've had two in recent years, rates have been in that mid 4s...not sure what they are now, as I'm not carrying a balance.

OP, check PenFed. They do 90% CLTV HELOC.

rated:
OP, what kind of debt ? If some is CC, you could get a business card and move it over, and if it's the right one, it won't show on your credit report.

It could have a dramatic effect on your DTI, as it simultaneously lowers your debt and increases your available credit.

rated:
HBaxx said:   OP, what kind of debt ? If some is CC, you could get a business card and move it over, and if it's the right one, it won't show on your credit report.

It could have a dramatic effect on your DTI, as it simultaneously lowers your debt and increases your available credit.

  Doesn't technically lower DTI.  (CAN change credit score).

Only changes DTI if you lie and commit mortgage fraud by signing that you have everything listed while leaving it off.

rated:
One is not necessarily personally responsible for business debt.

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HBaxx said:   One is not necessarily personally responsible for business debt.
  Most credit cards you are.  You're suggesting a person to get business credit who never even said they had a business.  Credit card issuer won't just hand out business liable only credit like candy.  They Will give out business cards that you are also personally liable for with no business evidence.  This debt is removed from personal credit score calculation but clearly still goes on the mortgage application form unless you are intentionally committing mortgage fraud.
  
"But if you never default, no one will notice and you won't be prosecuted, so it doesn't count!" - Someone trying to exceed DTI limits is much more likely to default.......

rated:
One is not necessarily personally responsible for business debt.

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