Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
NCPoppy

0 Contributions
0 People Helped
Which mortgage loan would be best? Home is paid off, need $50K for handicapped van
We are in dire need of a handicapped accessible van to transport our adult son who is disabled. My son can get some financial help for the modifications, but the van will cost around $50K. We don't have a lot of cash, but our home which is currently valued around $290K is paid off. My credit scores are 666/705. What would be the best type of financing. We feel the monthly payment of a traditional car loan would be too high, and maybe an equity or HELOC might be the way to go. We thought that maybe if we were approved for a HELOC we might be able to look first for a late model used van, and be ready to purchase if we find a great deal w/o borrowing more than needed. Appreciate any input.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
785 Contributions
300 People Helped

I don't recommend obtaining a home loan. This would be an extra financial burden. I have a disabled friend, and she researched state and government assistance to obtain a handicapped van. Many states, counties and private groups are out there to lend assistance.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.