$126000 Secured Loan – Fayetteville Arkansas, Credit Score Of 767
- Experian: 783 – They had an excellent Experian rating
- Transunion: 755 – Katherine had an excellent credit rating with Transunion.
- Equifax: Katherine’s Experian score was 767, which is an excellent credit score using the Experian system.
Katherine was rejected by Horizon Bank 5 times prior to being approved by First Federal Savings and Loan Association at First Fed Bldg
On November 26, 2009, Katherine inquired about borrowing $40,000 from Union Planters Bank of Northeast Arkansas with Deeanna, their in law from just outside Fayetteville, and even with the co-signer, Katherine was rejected for this secured loan. With excellent credit, it can be a challenge to procure financing, even with collateral and a co-signer.
When Katherine was 24, they tried to obtain a student loan from 6 alternate lenders, which harmed their credit score. Below is a chronology of Katherine’s previous attempts at finding a student loan:
- Attempt 1) Loan for $33,000.00 on September 7, 2011
- Attempt 2) Loan for $32,000.00 on February 26, 2009
- Attempt 3) Loan for $36,000.00 on August 11, 2010
- Attempt 4) Loan for $28,000.00 on August 31, 2009
- Attempt 5) Loan for $35,000.00 on September 2, 2010
- Attempt 6) Loan for $35,000.00 on September 16, 2010
Debt Consolidation Can Help Any Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks
Average debt consolidation loans range from $36,000.00 to $45,000.00. They are mainly used to pay off existing high interest loans like credit cards. Katherine required a debt consolidation loan to pay for their existing secured loan and their loan shark loan. Katherine was able to find a secured loan in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which transfers your bad, catastrophically high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates that are low, like 4.5%.
Previous requests on Katherine’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$104230.00||9||7.3%||$1319.42||Bank of Weiner||September 29, 2013|
|$104420.00||6||10.4%||$1955.6||Horizon Bank||December 20, 2014|
|$103690.00||4||11.1%||$2684.96||Warren Bank and Trust Company||April 7, 2015|
|$103740.00||6||5.8%||$1709.49||Boatmen’s Bank of Northeast Arkansas||August 10, 2015|
Personal Loan for an economics professor named Katherine in Fayetteville, Arkansas to Pay Off Commerce Bank Special Connections MasterCard with Rewards
Katherine had a lot of credit card debt on their Ohio Savings Bank Maximum Rewards Visa Card and their Steuben Trust Visa Business Bonus Rewards Card, and they were starting to get in over their heads. Despite Katherine’s job as an economics professor, they struggled to make payments on the $28,000.00 credit card balance, desperately needing assistance in the form of a personal loan.
Katherine has a disappointing current yearly income, but has several of prospects
Katherine has always wanted to be a pharmacy technician, but would have to attend San Francisco Conservatory of Music again to become one. Katherine has other possibilities as well, including real estate lawyer, patent agent, and horticulturist, which pay $52,000 through to $97,000 per year, at least. For this reason, we believe that Katherine can afford this secured loan of $126000.
Katherine’s Transunion score was changed by the secured loan loan, changing to 755 from 767, which is normal in our experience.
Many other requests for credit have been made by Katherine in the past, including one from Tustin Community Bank in Fayetteville, Arkansas before Katherine was accepted for the $126000 by First Federal Savings and Loan Association
Katherine made 8 previous attempts to obtain a secured loan, 2 of which were with Tustin Community Bank, a lending institution in Fayetteville, Arkansas known to specialize in secured loans specifically. Prior to finding First Federal Savings and Loan Association, Katherine was very concerned due to their inexperience and excellent credit score.
Contact Details for First Federal Savings and Loan Association, the provider of this secured loan
- First Federal Savings and Loan Association
- City: Fayetteville
- State: Arkansas
- Address: First Fed Bldg
- County: Washington
- Zip code: 72701
- Full name (Changed if requested): Katherine Stringer
- Current Credit: loans.hit.utils.Fico@3d646c37
- Current City: Fayetteville
- State: Arkansas
- Zip code: 72705
- Yearly income: $42,000
- Current Job: economics professor
- Current County: Washington
- Goal Yearly Income: $116,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $3000
Paraphrased and Standardized Quote from Katherine for this secured loan of $126000, provided by First Federal Savings and Loan Association
Hi, I am Katherine and I’m from Fayetteville in Arkansas. Washington, county is where I grew up, and now I need a secured loan in Arkansas for $126000 to buy a big ticket item. It wasn’t easy, but First Federal Savings and Loan Association really came through for me with this loan for 11.0% interest APR and a term of 22 years. I can repay the loan over the 22 year term, including interest. A big thanks to First Federal Savings and Loan Association for giving me a chance and my excellent credit. It look me 4 years to build my credit to 767, and I won’t harm it any future. I’m happy with Find Texas Loans for assisting me this far.
Signature Loan found in Fayetteville, Arkansas for $126000 with excellent credit by Katherine
Most clients have difficulty with obtaining signature loans in Fayetteville, Arkansas, and Katherine is the same. Katherine went to 4 lenders or more prior to settling on First Federal Savings and Loan Association, who offered Katherine a signature loan for $126000. Most signature loans simply need a client, like Katherine’s signature to obtain them, up to $40,000 in some cases. Katherine was able to get $126000 as a secured loan, which is very high for a secured loan. Since signature loans do not need collateral, these loans generally need improved credit, as high as 742
Before applying for this secured loan, Katherine had an Experian score of 783, which is excellent, so First Federal Savings and Loan Association most likely cannot provide Katherine a secured loan
Katherine’s Overall FICO score at the time of acceptance for a secured loan, taking into account their economics professor job and their future career as a pharmacy technician
6 Months in the Past, Katherine Attempted Finding a High Risk Loan for $48,000.00, and it was Hard
There is an existing struggle for clients to find high risk loans in a non-harmful manner. a lot of high risk loans end up originating loan sharks or the like, which can be frightening to borrowers like Katherine. Katherine chose not to obtain a high risk loan this time. High Risk loans are given to terrible credit clients. Clients with credit scores as low as 408 can apply for a high risk loan and possibly can be accepted.
Installment loan for Katherine, a graduate of San Francisco Conservatory of Music and an economics professor working for over $66,000 per year
Katherine, an alumnus at San Francisco Conservatory of Music and an economics professor in Fayetteville, Arkansas needs a secured loan to purchase something frivolous. Katherine has instead chosen to get an installment loan for $15,000 and is currently seeking lenders like Valley Bank to process their request.
Fast Loans for Katherine in Fayetteville, Arkansas to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Fayetteville, Arkansas aren’t actually that difficult to obtain, especially if you have some finesse like Katherine. Katherine was able to find a fast loan for $126000 from Madison Bank and Trust and Madison Bank and Trust, but declined both offers in favor of their secured loan from First Federal Savings and Loan Association. The improvement with a fast loan over a installment loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for debt consolidation loans. An improvement if a client is in a pinch.
Conclusion of Katherine’s secured loan
In the end, Katherine was able to find a secured loan for $126000 with an interest rate of 6.8% interest APR from First Federal Savings and Loan Association in Fayetteville, Arkansas repayable over 22 years from now.