So I recently applied for a heloc or equity which ever I could qualify for, but neither did.
I applied with WElls FArgo, who are extremely strict!
Thing is I am just on the deed of the house, I think thats why It got denied. So this is my parents house, and they said I could borrow 70k from equity, but they have to apply with me right?
I currently make 3,000/mnth, FIco of 715, with only car payment, and credit card that are being paid off. I really want to get this loan to invest in a property paid in cash! My mom thinks they wont qualify because my mom only makes about 1,200/month, same for my dad.
Will we qualify perhaps through a broker??
Balance on house is 200k. Value is 350k.
Wells fargo is farthest the strictest. I have seen other people with incomes of 500 a month and still got a heloc. Im sure some where I can get it.