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Question
I need to have a $25,000 Surgery, Will owning two homes with high equity help me to approve for this LOAN?
I need $25K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put $7K Down, and owe about $10K more, and I own 2 homes, appraised at $115K A piece, and on each I have two hard money loans in the amount of $50K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them... I am just wondering... what kind of a part it would play in getting myself a loan. Thanks : ) PS: My Health Insurance wont cover a thing. Thanks : ]
4 months ago - 2 answers
Best Answer
Chosen by Asker
If you have $230,000 in property assets and owe only $100,000 total on both, yes that will look good.--you have $130,000 in equity. The biggest issue for a loan will be: Why your credit score isn't better (late payments, a lot of other debt not listed above, etc). What is your income to debt ratio and will that change when you have this surgery (will you be out of work or do you have time that you can take). It depends on a lot of things.
by bljzzgrl
4 months ago
Asker's Rating: 
Other Answers
The Above Loan Firm number is a scam. See the number. Its from Africa probably Nigeria. Please report ANSWER 2 and no one ever call this number....... These are the work of loan scammers........ I have reported too......
by Joe- 4 months ago