Asked by David  |  Submitted July 29, 2017

Will a medium to high debt to income ratio prevent me from refinancing my HELOC?

My HELOC payment is going to increase soon. The loan balance is $110,00 and my credit score is in the 750 range, I have a steady job but as I said a medium to high debt-to-income ratio. Can I avoid that payment increase?

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  Answers  |  1

November 15, 2017

Depends on what you consider "medium to high" debt ratio. Since HELOCs are held by the originating bank or credit union, they have more leeway on debt ratios, compared with mortgages, which fall under far more CFPB scrutiny.

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