Is it difficult to get a home equity loan? Is it difficult to get a home equity loan? If your credit score is lower than 620, it may be difficult to qualify for a home equity loan. ... Home equity loans are long-term loans that take years to repay so don't borrow more than you need, only using it for major financial reasons.
What are the disadvantages of a home equity line of credit? Mortgage Guide A home equity line of credit does have some disadvantages. For one, the interest rate... more