The lingering question that weighs on most homeowners minds' is "Can I get a refinance loan with a low credit score below 600?". The answer is "yes"! Millions of Americans refinance their existing mortgage loans each year with credit scores below 500 or below 600, with no problems.
Get a Cash out refinance loan, Home equity loan or HELOC (line of credit) - up to 125% Equity, whether you live in Columbia, Joplin, Kansas city, Springfield, St Louis or a small town in Missouri.
MO Bad Credit Refinance Loans With Low Credit Scores | |
| Why a 125% Home Equity Loan? Because it gives you the most bang for your buck. A 125% home equity loan allows you to replace your existing home loan with one that is 125% of your home's value. For example, you can exchange a $200,000 mortgage for a $250,000 mortgage thereby taking $55,000 out of your home (assuming you still owe $195,000 on your mortgage). (($200,000*125%)-$195,000). | |
| With a 72.3% homeownership rate, Missouri tops the national homeownership rate of 64%. Most homeowners in Missouri also have 6% or more equity in their homes that can be used to consolidate credit card bills, refurbish their homes, pay for student loans, etc. | |
| Missouri Home Prices |
| Area | Median Price |
|---|---|
| Kansas City, MO | $158,100 |
| St. Louis, MO | $154,400 |
| Springfield, MO | $127,000 |
| * National Association of Realtors - 2006 3rd quarter. |
Missouri bad credit mortage refinance Loans, Missouri bad credit 125% HELOC loans, Missouri bad credit 125% home equity loans and Missouri bad credit cash out refinance loans offered in: Kansas City, MO St. Louis, MO Springfield, MO Independence, MO Columbia, MO Lee's Summit, MO St. Joseph, MO O'Fallon, MO St. Charles, MO St. Peter's, MO