How can I get a fast $60,000 loan (I have a paid off house vauled at $400,000)?

Question

How can I get a fast $60,000 loan (I have a paid off house vauled at $400,000) but poor credit and i don't work.. and I need the $60,000 in 2 to 3 weeks ... What can I do..please help...

Answer 1

A local lender may give you the loan since you have strong equity in your house, but it is unlikely. What you are probably going to need is a hard money lender, call some local mortgage brokers to see if they know of any hard money lenders. The interest rates will be about double what typical rates are, but that may be your only choice in your situation.

Answer 2

You won't find a "fast" $60,000 loan. And with "bad credit" and no income, you won't get a loan on that house, either. You can SELL the house - but that'll take longer than 2 or 3 weeks.

Answer 3

Use the equity you have in your house to secure a home equity loan and do be very cautious of who you get a loan from. Many lenders and people will tell you they can lend you the $60,000 you need and all there sob stories but in reality many are scams, not all I am sure but many are. Go to a legit lender and secure your loan and you can ask them to expedite the loan meaning have it processed faster. Just do not fall for peoples scams. Best Wishes.

Answer 4

Go to your local bank branch where you currently hold a checking / savings account and see if you qualify for a HELOC (home equity line of credit). You will still have to apply and show income docs, etc. But this process will only take 2-3 days. But typically if you own the home outright - there will not be a need for an appraisal.



If you bank with a credit union - this process will be even quicker.

Answer 5

You can get a loan by contacting [e-mail] at a relatively low interest rate.

Answer 6

Reverse morgage on your home.