deals below 520

[promortplanner]

Has anyone out there still engaging in sub prime refinancing noticed that some lenders are starting to tighten up guidelines and rejecting deals that fall below 520 ficos? Let me know what your experiences are on these scenarios. I still have a ton of lenders that still go to 500fico and even have a few lenders that will go to 475ficos, but certainly seen a lot of lenders moving away from deals that fall below the 520 mark.

[OregonLO]

from what I've seen things are getting harder for lower ficos. I've gotten some odd things pulled off on a couple of refi's but it does seem to be getting harder to do.

[Fidelity One]

Money is Money. The key is finding affordable money and that again is a relative term. In the late 70's, getting a loan at 20% was considered low. Today with prime around 5-7 percent, a loan for 7-9% is considered a good rate.

Some people need cash fast, and it is usually people with bad credit. So the key for these people is being able to utilize the assets they have to get a better rate. This allows them to pay off the loan faster and get back on their feet and raise their credit score.

If you can't access money in your home, because it is now worth less than you owe, think about getting a line of credit based on the value of your car.

Over 50% of the people in the country own their cars, but most people think the only way to access the value in their cars is to sell them.

This is where Fidelity One can help. If you want to know more, click on the link in my signature.