A 125% home equity line of credit can be a good way for borrowing money at a low initial interest rate for consolidating and paying off high interest rate credit card debts, personal loans, educational loans, car finance loans, etc. By securing a 125 LTV HELOC with a 3 to 5 year repayment duration, you may have some real chance of building credit provided you make sure that you repay the money being borrowed regularly. However, it is important that you identify your long-term goals prior to applying for HELOC. A better idea is to consult our local expert.
A 125 ltv home equity loan is a credit service that enables borrowers to borrow money up to 125% of the total equity built up in their homes. Such a proposition can be ideal for homeowners who have VA or FHA mortgages. One can qualify for low interest rates.
Get Quick ApprovalTo obtain approval for a 125 home equity loan line of credit, applicant must be owner of the house that is to be pledged as collateral. Besides, borrower must have a credit score of at least 600 if the program is FICO based 125% home equity line of credit program.
Typically, HELOC 125 LTV is a mortgage financial solution that can enable you to secure credit services for loan amount, which is 125% of the existing home equity. While HELOCs will have lower interest rates initially, the rates might start adjusting later on and increase significantly making payments highly unaffordable.
