Lifetime renter (38yo)..First time home buyer -- purchased my wife's grandfathers house before he passed for 100k for cash -- valued at around 270k. Now looking at a HELOC to do about 50-100k in fixes/renovations. Have done a bunch of research and talked to a couple financial advisors and lenders..seems like our local credit unions are the place to go. Was trying to find a fixed rate HELOC but everyone seems to only have variable. Question really is - my credit is in the mid to upper 700's..wife's is mid 500s. She doesn't have a lot of credit history, so her score greatly fluctuates when she's not carrying less than 30% in balance. Should we wait to apply till her credit is in the mid 600s or do you think given our situation (own the house straight up and good interest rates right now) that we should just apply? Timing isn't a crazy issue but we just moved her grandmother out and we're looking to move into the house in august and doing most of the work myself on the weekends, so want to get moving..Any help would be greatly appreciated!
Submitted February 14, 2020 at 08:36PM by tempoblues https://ift.tt/2US5KzZ
