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Mortgage For $108000 Near 61944, Illinois With A Credit Score Of 529

$108000 Mortgage – Paris Illinois, Credit Rating Of 529

  • Experian: 544 – This individual had a fair Experian score
  • Transunion: 516 – Jin had a fair credit score with Transunion.
  • Equifax: Jin’s Experian score was 529, which is a fair credit score using the Experian scale.

Jin was declined by Bank One, Illinois, National Association 7 times before being approved by First Federal Savings Bank, FSB at 206 S Central Ave

On November 18, 2008, Jin applied about borrowing $24,000 from Farmers & Mechanics Bank with Monika, their friend from just outside Paris, and even with the co-signer, Jin was rejected for this mortgage. With fair credit, it can be difficult to obtain funding, even with collateral and a co-signer.

Jin’s Overall FICO score at the time of acceptance for a mortgage, taking into account their military-enlisted personnel job and their future job as a public relations specialist

Fico Score: 529

Jin has a sad current gross income, but has a large amount of prospects

Jin has always wanted to be a public relations specialist, but would need attend Lake Erie College again to achieve it. Jin has other prospects as well, including golf course superintendent, human resources management consultant, and mental health counselor, which pay $59,000 through to $104,000 per year, at least. Because of this, we think that Jin can afford this mortgage of $108000.

When Jin was 20, they tried to obtain a student loan from 6 different banks, which damaged their credit score. Below is a chronology of Jin’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $25,000.00 on November 5, 2009
  • Attempt 2) Loan for $23,000.00 on January 25, 2011
  • Attempt 3) Loan for $29,000.00 on March 12, 2013
  • Attempt 4) Loan for $23,000.00 on July 31, 2009
  • Attempt 5) Loan for $22,000.00 on June 7, 2012
  • Attempt 6) Loan for $38,000.00 on March 10, 2012

Personal Loan for a military-enlisted personnel named Jin in Paris, Illinois to Pay Off The Western PA Humane Society Visa Platinum Rewards Card

Jin had a lot of credit card debt on their Virgin Atlantic World Elite Black Card MasterCard and their Commerce Bank St. Louis Blues MasterCard, and they were starting to get in over their heads. Despite Jin’s job as a military-enlisted personnel, they struggled to make payments on the $27,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Paraphrased and Standardized Quote from Jin for this mortgage of $108000, provided by First Federal Savings Bank, FSB

Hello, I am Jin and my hometown is Paris in Illinois. Edgar, county is where I grew up, and now I need a mortgage in Illinois for $108000 to renovate my home. It has been difficult, but First Federal Savings Bank, FSB really came through for me with this loan for 11.2% interest APR and a term of 18 years. I can repay the loan over the 18 year term, including interest. A big thanks to First Federal Savings Bank, FSB for trusting me and my fair credit. It look me 4 years to build my credit to 529, and I won’t harm it any future. I am happy with Find Texas Loans for assisting me this far.

Previous requests on Jin’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$16200.00 3 5.1% $486.26 The Gerber State Bank January 30, 2010
$15830.00 5 8.5% $324.78 The Belvidere National Bank and Trust Company April 6, 2012
$16340.00 8 9.4% $242.79 Commerce Bank December 26, 2012
$15730.00 11 9.5% $192.51 Byron Bank February 22, 2014
$16180.00 8 5.8% $211.06 Amalgamated Bank of Chicago October 6, 2014

6 Months in the Past, Jin Attempted Finding a High Risk Loan for $26,000.00, but They Didn’t Find What They were Expecting

There is an existing struggle for clients to find high risk loans in a safe way. Many high risk loans end up originating loan sharks or similar lenders, which can be frightening to borrowers like Jin. Jin decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to very low credit applicants. Clients with credit scores as low as 425 can apply for a high risk loan and possibly can be accepted.

Debt Consolidation Will Help Any Highly Indebted Borrower to Escape Bad Debts like Loan Sharks

Normal debt consolidation loans vary from $23,000.00 to $53,000.00. They are typically used to pay off existing high interest loans like credit cards. Jin needed a debt consolidation loan to pay for their existing mortgage and their payday loan. Jin was able to find a mortgage in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which transfers your dirty, high interest loans to one lower interest loan. Debt consolidation loans usually have interest rates as low as 2.7%.

Signature Loan easily acquired in Paris, Illinois for $108000 with fair credit by Jin

A lot of clients have difficulty with obtaining signature loans in Paris, Illinois, and Jin is no different. Jin went to 4 lenders or more prior to settling on First Federal Savings Bank, FSB, who offered Jin a signature loan for $108000. Typical signature loans simply need a client, like Jin’s signature to obtain them, up to $21,000 in some cases. Jin was able to get $108000 as a mortgage, which is very high for a mortgage. Since signature loans do not need a cosigner, they tend to require higher credit, as high as 748

Contact Details for First Federal Savings Bank, FSB, the provider of this mortgage

  • First Federal Savings Bank, FSB
  • City: Paris
  • State: Illinois
  • Address: 206 S Central Ave
  • County: Edgar
  • Zip code: 61944

Jin’s Transunion score was changed by the mortgage loan, changing to 516 from 529, which is typical in our experience.

Transunion Score: 516

Multiple previous requests for credit have been made by Jin in the past, including one from Heart O Lakes Savings and Loan Association in Paris, Illinois before Jin was approved for the $108000 by First Federal Savings Bank, FSB

Jin made 4 previous tries to obtain a mortgage, 2 of which were with Heart O Lakes Savings and Loan Association, a lender in Paris, Illinois known to specialize in mortgages specifically. Before finding First Federal Savings Bank, FSB, Jin was concerned due to their inexperience and fair credit rating.

Fast Loans for Jin in Paris, Illinois to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Paris, Illinois aren’t actually that difficult to obtain, especially if you have some finesse like Jin. Jin was able to find a fast loan for $108000 from First Bank of Eureka and Commerce Bank, but turned down both offers in favor of their mortgage from First Federal Savings Bank, FSB. The improvement with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. Much better in the case that a borrower is in a pinch.

Installment loan for Jin, a graduate of Lake Erie College and a military-enlisted personnel working for over $62,000 per year

Jin, an alumnus at Lake Erie College and a military-enlisted personnel in Paris, Illinois needs a mortgage to purchase a new cell phone. Jin has instead chosen to get an installment loan for $21,000 and is at present seeking lenders like Mercantile National Bank of Chicago to provide it.

Client Profile: Jin Fowler of Paris, Illinois
  • Full name (Changed if requested): Jin Fowler
  • Current Credit: loans.hit.utils.Fico@26a1ab54
  • Current City: Paris
  • State: Illinois
  • Zip code: 61953
  • Yearly income: $45,000
  • Current Job: military-enlisted personnel
  • Current County: Edgar
  • Goal Yearly Income: $129,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $8000

Before applying for this mortgage, Jin had an Experian score of 544, which is fair, so First Federal Savings Bank, FSB likely cannot provide Jin a mortgage

Experian Score: 544

Conclusion of Jin’s mortgage

In the end, Jin was able to find a mortgage for $108000 with an interest rate of 11.0% interest APR from First Federal Savings Bank, FSB in Paris, Illinois repayable over 18 years from now.

Will Alexander

Will Alexander has over 10 years of experience as a financial expert and writer. The goal of his work is to assist the people of Texas in finding loans for lower interest rates than they thought were possible. Will specializes in bad credit loans.

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Names of borrowers and lenders have been modified, substituted, or fictionalized for search and privacy purposes. Information presented here is for entertainment purposes only and should not be interpreted as the truth.