Asked by Darla  |  Submitted December 22, 2019

My home is paid off but I need to borrow against it for repairs.

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  Answers  |  1

January 07, 2020

If your home is paid off, you can apply for a home equity loan. There are quite a few factors that a lender will consider before approving an equity line, such as your debt-to-income ratio, your home's value, and your current credit score. You can check your credit score and read your credit report by logging in to your Credit Manager account.

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