Loan amount
$50,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$150,000
LTV
33%
{LTV}
Property type
Single Family
Borrower Details
Credit score
753
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Vernonia
State
Oregon
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$50,000
Additional Loan Information
I’m looking to secure a loan to buy out my wife’s interest in our property. We’re divorcing. The property is worth about $150k, and I’m looking for a $30-50k loan. My Equifax score is 747, and my Transunion 752. I have $10k in savings. I am, unfortunately, also unemployed. I receive unemployment of $1,696 a month, payable for 45 more weeks. I expect to return as a substitute in the public schools when they re-open.
I understand my lack of employment and a co-signer would bar me from conventional financing, but is there an unconventional option I might pursue? I’m very motivated to keep my home of 20 years. Thanks for your help---
I understand my lack of employment and a co-signer would bar me from conventional financing, but is there an unconventional option I might pursue? I’m very motivated to keep my home of 20 years. Thanks for your help---
Status
Open
Created
March 5, 2021 - 11:49am
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