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What is the best kind of loan to get if you want to borrow 12000 and pay it off over 60 months and you have a credit score of 661?
Wiki User
∙ 17y ago
If you own a home with equity, a 2nd mortgage would be better since the interest can be a deduction on your taxes. If you have no equity--in other words you mortgaged 100% of the property's worth, it does not mean you can't do an equity loan but the interest won't be deductable. If you don't own any real estate, then any loan with the lowest interest would best suit your needs.
Wiki User
∙ 17y ago
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Is grantsgov a scam?
Will grants.gov steal from me if i let them borrow $490 to raise my credit score?
How long do i have to have a credit card before i get a credit score?
6 months
Where do I find out my credit score?
You can use a credit check service to get your credit score. Also, depending upon your credit card company, you can request a free credit score once every 6 months.
If you have a lot of recent credit enquiries on your report how long does it take for your credit score to improve?
Credit inquires are factored into the score for 12 months for the purposes of lending and for 24 months for purposes of insurance quotes and underwriting.
How long do credit inquiries affect your credit score?
Credit inquiries are logged on your file for a period of 2 years. Some argue that the score itself is only effected for 12 months, but the inquiry is visible for 24 months.
How do you make a 455 credit score to a 620?
Get a job for 6 months and then buy a car!! you will have high interest but its gonna help your credit score...
If you pay off nine old collections and charge-off accounts over 7 months would there be a drastic increase in your credit score after 16 months?
A consumer's credit score is based on ALL of the information showing in your credit file at the time the score is calculated, not just the items you have mentioned.
Does consolidating debt loan help improve your credit score?
A debt consolidation does absolutely nothing to improve your credit score. Consolidating debt causes you to simply borrow more money to pay off old debts.
Does IVA affect credit rating?
How will an IVA IMPACT my credit rating? If you get an individual voluntary arrangement, it'll be recorded on your credit report. Your credit score will go down as a result, since this number is based on information in your report. A lower score means you may struggle to borrow money.
What is the max loan amount for a credit score of 620?
The max loan to value amount based on your credit score would be 100% financing. As far as loan amount that would be based off your income and monthly obligations, credit score dictates how much of a percentage you may borrow and your interest rate, it doesn't dictate how much money you can borrow. There are also alternative means of documentation and mortgage programs if you do need to qualify for more money.
How do you have a good credit score?
The easiest way is to borrow money in a variety of different ways (e.g. credit cards, car loan, store revolving credit, student loan, mortgage) and always pay on schedule on all these loans. Do not keep the balance on credit cards too close to their credit limits. Also if you rent an apartment always pay your rent on time.However remember that every time you open a new credit card or loan account your credit score will drop for several months, so avoid doing too much credit activity at one time.
Can a home be refinanced for more than the current loan amount?
Depending on your credit score you can refinance up to 100% of the appraised value of your home. In fact, there are some lenders who will allow you to borrow up to 125% of the value, if you have a credit score about 720.
