Heloc Help
Hello to the lovely and talented people on RFD.
I just needed your advice on my current situation.
I'm 28 years old single male.
I currently own a condo in Mississauga beside SQ1 that's worth about $310,000(2016 estimate.) I have a private mortgage ($240k) that I'm paying 7%.
My credit score is 585. The reason my credit score is low because of my credit card which is maxed at the 5k limit. I have no other debts. I wanted to get a Heloc of $10k to pay off my debts, fix my credit score, and renew my mortgage which is maturing in May but is open.
Based on this situation, would I be able to obtain a Heloc?
I just needed your advice on my current situation.
I'm 28 years old single male.
I currently own a condo in Mississauga beside SQ1 that's worth about $310,000(2016 estimate.) I have a private mortgage ($240k) that I'm paying 7%.
My credit score is 585. The reason my credit score is low because of my credit card which is maxed at the 5k limit. I have no other debts. I wanted to get a Heloc of $10k to pay off my debts, fix my credit score, and renew my mortgage which is maturing in May but is open.
Based on this situation, would I be able to obtain a Heloc?
