HELOC With A 600 Credit Score
A 600 credit score can qualify for a home equity line of credit on the home you live in with at least one program we offer. Second homes need 640 there, and the debt-to-income limit is 45% below a 680 score.
What a 600 score HELOC requires
Each item below is a requirement of at least one HELOC we offer.
- A 600 score works only on a primary residence; a second home needs at least 640.
- Your debt-to-income ratio can be up to 45% with a score below 680, and up to 50% at 680 or higher.
- Your mortgage or rent history can show no 30-day late payment in the last 6 months and no more than one in the last 12 months.
- Past-due consumer debt can be no more than 90 days late at closing; anything later, plus judgments and tax liens, must be paid off before or at closing.
- Collections under 24 months old can stay open up to $2,000, older ones up to $2,500 each, and medical collections can stay open at any balance.
- Lines above $500,000 need a 700 score and a primary residence, so with a 600 score the line tops out at $500,000, and your equity may limit it further.
600 score on primary homes
Lines from $15,000
Medical collections can stay open
Second homes at 640
No prepayment penalty
Debt payoff can lower DTI
Can You Get A HELOC With A 600 Score?
Yes, on a primary residence, with at least one program we offer, as long as the rest of your file fits its rules.
At least one HELOC program we offer sets its minimum credit score at 600. That floor applies to a primary residence only; a second home needs at least 640. The score used is the primary wage earner’s Experian FICO 8, and the credit report can be no more than 90 days old at closing.
A lower score changes the numbers around it. Below 680, your debt-to-income ratio can be no higher than 45%. Lower scores also limit how much of your equity you can use, and lines above $500,000 need a 700 score. Lines start at $15,000, and at least 75% of the line is drawn at closing.
Our other HELOC program’s main guidelines start at 640, with 680 required for a second home or rental. If a past credit event is behind your score, see our heloc after bankruptcy page.
Why choose Saxton for a HELOC with a 600 score
This page is for homeowners with a credit score in the 600s who want a line of credit on the home they live in.
600 Score On A Primary Home
At least one program we offer accepts a 600 credit score on a primary residence. Second homes need 640 there.
Medical Collections Can Stay Open
At least one program lets medical collections stay open at any balance. Other collections can stay open up to $2,000, or up to $2,500 each once they are more than 24 months old.
Two Programs Checked
Our other program’s main guidelines start at 640. We compare your score with each program’s rules so you know which one is more likely to fit.
45% DTI Below 680
With at least one program, your debt-to-income ratio can be up to 45% when your score is below 680.
Debt Payoff Can Lower DTI
At least one program allows debt consolidation to reduce your debt-to-income ratio, which can help when a lower score caps it at 45%.
No Prepayment Penalty
At least one program that accepts a 600 score has no prepayment penalty.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about getting a HELOC with a 600 credit score.
Yes, on a home you live in, with at least one program we offer. Second homes need at least 640 there, and you still need enough equity and a recent payment history that fits its rules.
No. At least one program requires 640 for a second home, and our other program requires 680 for a second home or rental.
Up to 45% with at least one program. At 680 and above, the limit there rises to 50%.
At least one program uses the primary wage earner’s Experian FICO 8 score, and the credit report can be no more than 90 days old at closing. Our other program uses a FICO 9 score.
Not always. At least one program lets collections under 24 months old stay open up to $2,000, older ones up to $2,500 each, and medical collections at any balance. Charge-offs and collections above those amounts must be paid in full before or at closing.
Lines start at $15,000. Lines above $500,000 need a 700 score and a primary residence, so with a 600 score the line tops out at $500,000. A lower score also limits how much of your equity you can use, so your line may be smaller than your equity alone suggests.
At 640, at least one program accepts a second home, and our other program’s main guidelines accept a home you live in, on lines up to $125,000 until 680. At 680, the first program’s debt-to-income limit rises to 50%, and the other program accepts second homes and rentals, up to $200,000 behind an existing mortgage at 680 to 719, though not in some states, including Texas and New York.
Find out what you qualify for
Tell us your credit score and what you owe on your home, and we will show you the options that fit.
Get Pre-Qualified- Consumer Financial Protection Bureau, home equity loan compared with a HELOC
- Consumer Financial Protection Bureau, mortgages
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.