How much money do you need to make to get a home equity loan of 60,000?

Discussion in 'Off topic' started by Joel B, May 8, 2008.

  1. Joel B Guest

    Joel B
    I have a home worth 140,000 and I have paid it off, I want to get a home equty loan of 50-60k, I have a credit score of 773 but I only make 1600.00 per month can I get this kind of loan on my income.
  2. The loan should not depend on you income so much as the equity in the home. That is the collateral that guarantees the loan.
  3. mishpocha Guest

    mishpocha
    he's right
    do your research before signing anything
    Know what your talking about when applying for a loan and your home
    you could lose it
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