$144000 Direct Loan – Cambridge Minnesota, Credit Rating Of 590
- Experian: 601 – This individual had a fair Experian rating
- Transunion: 577 – Nancy had a fair credit score with Transunion.
- Equifax: Nancy’s Experian score was 590, which is a fair credit score on the Experian system.
- Full name (Changed if requested): Nancy Arriaza
- Current Credit: loans.hit.utils.Fico@533ddba
- Current City: Cambridge
- State: Minnesota
- Zip code: 55009
- Yearly income: $48,000
- Current Job: medical administrative assistant
- Current County: Isanti
- Goal Yearly Income: $132,000
- Debt (Personal Loan, Credit Card, Payday Loan, etc): $3000
Paraphrased and Standardized Quote from Nancy for this direct loan of $144000, provided by Cambridge State Bank
Hi, I am Nancy and my hometown is Cambridge in Minnesota. Isanti, county is where I grew up, and now I need a direct loan in Minnesota for $144000 to buy a big ticket item. It wasn’t easy, but Cambridge State Bank really came through for me with this loan for 8.5% interest APR and a term of 24 years. I can probably repay the loan over the 24 year term, including interest. A big thanks to Cambridge State Bank for trusting me and my fair credit. It look me 7 years to create my credit to 590, and I won’t tarnish it any future. I’m happy with Find Texas Loans for helping me this far.
Nancy has a disappointing current total income, but has a large amount of prospects
Nancy has always wanted to be an obstetrician, but would have to attend La Roche College again to achieve it. Nancy has other possibilities as well, including atm machine servicer, building inspector, and photo-optics technician, which pay $52,000 through to $103,000 per year, at least. For this reason, we think that Nancy can afford this direct loan of $144000.
Contact Details for Cambridge State Bank, the provider of this direct loan
- Cambridge State Bank
- City: Cambridge
- State: Minnesota
- Address: 127 South Main
- County: Isanti
- Zip code: 55008
8 Months in the Past, Nancy Attempted to Find a High Risk Loan for $25,000.00, and it was Easy
There is an existing struggle for borrowers to find high risk loans in a safe manner. Many high risk loans end up coming from loan sharks or similar lenders, which can be frightening to borrowers like Nancy. Nancy chose not to obtain a high risk loan this time. High Risk loans are the instrument of choice, and are given to very low credit individuals. Individuals with credit scores as low as 471 can inquire for a high risk loan and may be be approved.
Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt
Average debt consolidation loans range from $29,000.00 to $55,000.00. They are typically used to pay off existing high interest loans like credit cards. Nancy needed a debt consolidation loan to pay for their existing direct loan and their loan shark loan. Nancy was able to find a direct loan in the end. Debt consolidation, or simply consolidation, is a tactic in the strategic borrowing method which changes your bad, high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates that are low, like 2.6%.
Nancy’s Transunion score was altered by the direct loan loan, changing to 577 from 590, which is normal in our experience.
Nancy was declined by Fidelity Bank and Trust Company 4 times prior to being granted funding by Cambridge State Bank at 127 South Main
On June 2, 2009, Nancy inquired about borrowing $21,000 from Lakes State Bank with Allison, their friend from just outside Cambridge, and even with the co-signer, Nancy was rejected for this direct loan. With fair credit, it can be very hard to procure funding, even with collateral and a co-signer.
Installment loan for Nancy, a graduate of La Roche College and a medical administrative assistant working for over $77,000 per year
Nancy, an alumnus at La Roche College and a medical administrative assistant in Cambridge, Minnesota needs a direct loan to purchase a house. Nancy has instead decided to obtain an installment loan for $2,000 and is at present seeking lenders like Frandsen Bank & Trust to process their request.
Personal Loan for a medical administrative assistant named Nancy in Cambridge, Minnesota to Pay Off Canandaigua National Bank & Trust Secured Visa Card
Nancy had a lot of credit card debt on their University of Pittsburgh Credit Cards and their Firstrust Maximum Rewards Platinum Edition Visa Card, and they were starting to get in over their heads. Despite Nancy’s job as a medical administrative assistant, they struggled to make payments on the $26,000.00 credit card balance, badly needing assistance in the form of a personal loan.
Nancy’s Overall FICO score at the time of acceptance for a direct loan, taking into account their medical administrative assistant job and their future career as an obstetrician
Before applying for this direct loan, Nancy had an Experian score of 601, which is fair, so Cambridge State Bank likely cannot provide Nancy a direct loan
Multiple past requests for credit have been made by Nancy in the past, including one from National Bank of Catalina in Cambridge, Minnesota before Nancy was approved for the $144000 by Cambridge State Bank
Nancy made 8 previous tries to obtain a direct loan, 2 of which were with National Bank of Catalina, a bank in Cambridge, Minnesota known to specialize in direct loans specifically. Before finding Cambridge State Bank, Nancy was concerned due to their inexperience and fair credit score.
Previous requests on Nancy’s credit
|Principle in USD||Term Length in Years||Annual Percentage Rate||Monthly Payment||Lender’s Branch Name||Date of Request|
|$88210.00||3||5.2%||$2651.66||Marquette Bank Cannon Falls||February 4, 2012|
|$88320.00||11||10.4%||$1125.84||Root River State Bank||August 10, 2014|
|$87600.00||7||6.2%||$1288.13||Clinton State Bank||July 5, 2015|
|$88390.00||3||10.7%||$2881.23||Peoples State Bank of Plainview||August 16, 2015|
|$88300.00||5||10.8%||$1911.06||Security State Bank of Wykoff||August 31, 2015|
When Nancy was 18, they tried to obtain a student loan from 5 alternate lenders, which damaged their credit rating. Below is a chronology of Nancy’s prior attempts at finding a student loan:
- Attempt 1) Loan for $21,000.00 on May 21, 2010
- Attempt 2) Loan for $20,000.00 on December 26, 2009
- Attempt 3) Loan for $23,000.00 on December 17, 2011
- Attempt 4) Loan for $33,000.00 on June 11, 2009
- Attempt 5) Loan for $32,000.00 on August 5, 2013
Signature Loan easily acquired in Cambridge, Minnesota for $144000 with fair credit by Nancy
A lot of clients struggle with obtaining signature loans in Cambridge, Minnesota, and Nancy is not an exception. Nancy went to 5 lenders or more before settling on Cambridge State Bank, who offered Nancy a signature loan for $144000. Most signature loans simply require a client, like Nancy’s signature to obtain them, up to $23,000 in some cases. Nancy was able to get $144000 as a direct loan, which is very high for a direct loan. Because signature loans do not need collateral, they tend to need better credit, as high as 765
Fast Loans for Nancy in Cambridge, Minnesota to prevent bankruptcy or bodily harm from debt collectors.
Fast loans in Cambridge, Minnesota aren’t actually that difficult to obtain, particularly if you have some gumption like Nancy. Nancy was able to find a fast loan for $144000 from State Bank of Danvers and Citizens Alliance Bank, but declined both offers in favor of their direct loan from Cambridge State Bank. The improvement with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. An improvement in the case that a borrower is on the go.
Conclusion of Nancy’s direct loan
In the end, Nancy was able to find a direct loan for $144000 with an interest rate of 11.4% interest APR from Cambridge State Bank in Cambridge, Minnesota repayable over 24 years from today.