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Mortgage With Reasonable APR In Yellow Medicine County, Minnesota

$93000 Mortgage – Granite Falls Minnesota, Credit Score Of 770

  • Experian: 786 – The client had an excellent Experian rating
  • Transunion: 757 – Israel had an excellent credit score with Transunion.
  • Equifax: Israel’s Experian score was 770, which is an excellent credit score using the Experian system.

Before applying for this mortgage, Israel had an Experian score of 786, which is excellent, so Granite Falls Bank likely cannot provide Israel a mortgage

Experian Score: 786

9 Months Ago, Israel Attempted to Find a High Risk Loan for $47,000.00, and it was Hard

There is an ongoing struggle for borrowers to get high risk loans in a non-harmful manner. Many high risk loans end up coming from loan sharks or the like, which can be frightening to borrowers like Israel. Israel decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit borrowers. Borrowers with credit ratings as low as 462 can apply for a high risk loan and possibly can be approved.

Previous requests on Israel’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$118160.00 8 7.7% $1652.43 Marquette Bank Cannon Falls June 17, 2010
$117670.00 10 10.1% $1561.54 Root River State Bank April 28, 2011
$118490.00 7 5.7% $1713.98 Clinton State Bank June 12, 2013
$118180.00 8 5.8% $1541.57 Peoples State Bank of Plainview July 16, 2013
Client Profile: Israel Shamsi of Granite Falls, Minnesota
  • Full name (Changed if requested): Israel Shamsi
  • Current Credit: loans.hit.utils.Fico@2e817b38
  • Current City: Granite Falls
  • State: Minnesota
  • Zip code: 56245
  • Yearly income: $68,000
  • Current Job: aircraft mechanic
  • Current County: Yellow Medicine
  • Goal Yearly Income: $131,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $6000

Personal Loan for an aircraft mechanic named Israel in Granite Falls, Minnesota to Pay Off Pottery Barn Credit Card

Israel had a tonne of credit card debt on their Solvay Bank Visa Platinum Preferred Card and their RBC Business Cash Back MasterCard, and they were starting to get in over their heads. Despite Israel’s job as an aircraft mechanic, they struggled to make payments on the $27,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Contact Details for Granite Falls Bank, the provider of this mortgage

  • Granite Falls Bank
  • City: Granite Falls
  • State: Minnesota
  • Address: 702 Prentice Street
  • County: Yellow Medicine
  • Zip code: 56241

Israel has a low current gross income, but has several of prospects

Israel has always wanted to be a stress analyst engineer, but would need attend Nova Southeastern University again to become one. Israel has other possibilities as well, including education and training administrator, industrial designer, and atmospheric and space scientist, which pay $54,000 through to $102,000 per year, on average. Because of this, we believe that Israel can pay for this mortgage of $93000.

Israel was declined by O’Connor Bros. State Bank of Renville 6 times before being accepted by Granite Falls Bank at 702 Prentice Street

On December 25, 2012, Israel inquired about borrowing $33,000 from Citizens State Bank of Green Isle with Yolanda, their in law from just outside Granite Falls, and even with the co-signer, Israel was rejected for this mortgage. With excellent credit, it can be a challenge to obtain financing, even with collateral and a co-signer.

Installment loan for Israel, a graduate of Nova Southeastern University and an aircraft mechanic working for over $78,000 per year

Israel, an alumnus at Nova Southeastern University and an aircraft mechanic in Granite Falls, Minnesota needs a mortgage to purchase a house. Israel has instead decided to obtain an installment loan for $16,000 and is currently seeking lenders like Root River State Bank to provide it.

When Israel was 24, they tried to obtain a student loan from 4 different lenders, which damaged their credit rating. Below is a chronology of Israel’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $36,000.00 on October 14, 2011
  • Attempt 2) Loan for $29,000.00 on March 5, 2010
  • Attempt 3) Loan for $22,000.00 on May 23, 2010
  • Attempt 4) Loan for $30,000.00 on November 8, 2011

Debt Consolidation Will Help Any Deeply Indebted Borrower to Escape Bad Debts like Payday Loans

Average debt consolidation loans range from $29,000.00 to $53,000.00. They are mainly used to pay off existing high interest loans like credit cards. Israel needed a debt consolidation loan to pay for their existing mortgage and their credit card. Israel was able to find a mortgage in the end. Debt consolidation, or just consolidation, is a tactic in the debt snowball method which changes your less desirable, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates as low as 2.4%.

Israel’s Overall FICO score at the time of acceptance for a mortgage, taking into account their aircraft mechanic job and their future job as a stress analyst engineer

Fico Score: 770

Fast Loans for Israel in Granite Falls, Minnesota to prevent bankruptcy or harm from debt collectors.

Fast loans in Granite Falls, Minnesota aren’t actually that difficult to obtain, particularly if you have some finesse like Israel. Israel was able to find a fast loan for $93000 from Arlington State Bank and Marquette Bank Cannon Falls, but turned down both offers in favor of their mortgage from Granite Falls Bank. The improvement with a fast loan over a personal loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. An improvement in the case that a borrower is in a time sensitive situation.

Israel’s Transunion score was altered by the mortgage loan, changing to 757 from 770, which is normal in our experience.

Transunion Score: 757

Many past requests for credit have been made by Israel in the past, including one from First Federal Savings and Loan Association in Granite Falls, Minnesota before Israel was accepted for the $93000 by Granite Falls Bank

Israel made 6 previous tries to obtain a mortgage, 2 of which were with First Federal Savings and Loan Association, a lending institution in Granite Falls, Minnesota known to specialize in mortgages specifically. Before finding Granite Falls Bank, Israel was very concerned due to their inexperience and excellent credit score.

Signature Loan acquired in Granite Falls, Minnesota for $93000 with excellent credit by Israel

A lot of prospective borrowers have difficulty with finding signature loans in Granite Falls, Minnesota, and Israel is no exception. Israel went to 8 lending institutions or more prior to finding Granite Falls Bank, who offered Israel a signature loan for $93000. Most signature loans simply require a client, like Israel’s signature to obtain them, up to $49,000 in some cases. Israel was able to get $93000 as a mortgage, which is very high for a mortgage. Since signature loans do not need collateral, these loans generally need improved credit, as high as 751

Paraphrased and Standardized Quote from Israel for this mortgage of $93000, provided by Granite Falls Bank

Hello, I am Israel and I am from Granite Falls in Minnesota. Yellow Medicine, county is where I grew up, and now I need a mortgage in Minnesota for $93000 to buy a car. It has been difficult, but Granite Falls Bank really came through for me with this loan for 6.8% interest APR and a term of 15 years. I can repay the loan over the 15 year term, including interest. A big thanks to Granite Falls Bank for giving me a chance and my excellent credit. It look me 8 years to create my credit to 770, and I won’t harm it any more. I am pleased with Find Texas Loans for assisting me this far.

Conclusion of Israel’s mortgage

In the end, Israel was able to find a mortgage for $93000 with an interest rate of 9.2% interest APR from Granite Falls Bank in Granite Falls, Minnesota repayable over 15 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.