Do you have over $10,000 in Debt? Get Help now.

$87000 Mortgage In Mobile Alabama With Credit Score 577 For Joshua

$87000 Mortgage – Mobile Alabama, Credit Rating Of 577

  • Experian: 590 – This client had a fair Experian rating
  • Transunion: 558 – Joshua had a fair credit score with Transunion.
  • Equifax: Joshua’s Experian score was 577, which is a fair credit score using the Experian system.

When Joshua was 21, they tried to obtain a student loan from 6 alternate lenders, which damaged their credit score. Below is a chronology of Joshua’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $20,000.00 on November 19, 2009
  • Attempt 2) Loan for $35,000.00 on November 11, 2011
  • Attempt 3) Loan for $34,000.00 on May 25, 2010
  • Attempt 4) Loan for $31,000.00 on April 11, 2012
  • Attempt 5) Loan for $36,000.00 on December 14, 2009
  • Attempt 6) Loan for $22,000.00 on February 16, 2009

Installment loan for Joshua, a graduate of Career Institute of Florida – Spring Hill and an environmental technician working for over $61,000 per year

Joshua, an alumnus at Career Institute of Florida – Spring Hill and an environmental technician in Mobile, Alabama wants a mortgage to purchase a house. Joshua has instead chosen to obtain an installment loan for $12,000 and is at present seeking lenders like SouthTrust Bank of Central Alabama to process their request.

Client Profile: Joshua Kothakota of Mobile, Alabama
  • Full name (Changed if requested): Joshua Kothakota
  • Current Credit: loans.hit.utils.Fico@7c3df479
  • Current City: Mobile
  • State: Alabama
  • Zip code: 36610
  • Yearly income: $56,000
  • Current Job: environmental technician
  • Current County: Mobile
  • Goal Yearly Income: $97,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $7000

7 Months in the Past, Joshua Attempted Finding a High Risk Loan for $31,000.00, but They Didn’t Find What They were Expecting

It is an ongoing struggle for clients to find high risk loans in a safe way. Many high risk loans end up coming from loan sharks or the like, which can be scary to borrowers like Joshua. Joshua chose not to obtain a high risk loan this time. High Risk loans are generally given by lenders to very low credit borrowers. Individuals with credit ratings as low as 573 can inquire for a high risk loan and possibly can be approved.

Debt Consolidation Will Assist Most Deeply Indebted Borrower to Escape Bad Debts like Loan Sharks

Normal debt consolidation loans vary from $21,000.00 to $44,000.00. They are mainly used to pay off existing high interest loans like credit cards. Joshua required a debt consolidation loan to pay for their existing mortgage and their loan shark loan. Joshua was able to find a mortgage in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which transfers your less desirable, high interest loans to one reduced interest loan. Debt consolidation loans usually have interest rates as low as 3.6%.

Previous requests on Joshua’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$86840.00 4 10.2% $2210.84 AuburnBank April 27, 2010
$86780.00 6 8.3% $1534.28 Bank of the South February 23, 2012
$87420.00 5 6.7% $1718.67 Alabama City Bank of Gadsden, Alabama September 18, 2014
$87360.00 4 8.2% $2140.92 The Exchange Bank, Attalla, Alabama May 19, 2015
$87270.00 3 8.8% $2767.05 Robertson Banking Company July 1, 2015

Joshua’s Transunion score was changed by the mortgage loan, changing to 558 from 577, which is typical in our experience.

Transunion Score: 558

Several previous requests for credit have been made by Joshua in the past, including one from First National Bank of Alabama-Huntsville in Mobile, Alabama before Joshua was approved for the $87000 by Altus Federal Savings Bank

Joshua made 9 previous tries to obtain a mortgage, 2 of which were with First National Bank of Alabama-Huntsville, a lending institution in Mobile, Alabama known to specialize in mortgages specifically. Prior to finding Altus Federal Savings Bank, Joshua was concerned due to their inexperience and fair credit rating.

Joshua has a very low current total income, but has a high number of prospects

Joshua has always wanted to be a non-retail sales supervisor, but would have to attend Career Institute of Florida – Spring Hill again to achieve it. Joshua has other prospects as well, including retail buyer, electrical drafter, and home health technician, which pay $56,000 through to $95,000 per year, on average. For this reason, we believe that Joshua can pay for this mortgage of $87000.

Signature Loan found in Mobile, Alabama for $87000 with fair credit by Joshua

A lot of clients have difficulty with finding signature loans in Mobile, Alabama, and Joshua is not an exception. Joshua went to 4 lenders or more prior to settling on Altus Federal Savings Bank, who offered Joshua a signature loan for $87000. Most signature loans simply require a client, like Joshua’s signature to get them, up to $32,000 in some cases. Joshua was able to get $87000 as a mortgage, which is very high for a mortgage. Because signature loans don’t need a cosigner, they tend to require better credit, as high as 795

Joshua’s Overall FICO score at the time of acceptance for a mortgage, taking into account their environmental technician job and their future job as a non-retail sales supervisor

Fico Score: 577

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

  • Altus Federal Savings Bank
  • City: Mobile
  • State: Alabama
  • Address: 851 South Beltline Highway
  • County: Mobile
  • Zip code: 36606

Joshua was declined by The Citizens Bank of Winfield 6 times prior to being approved by Altus Federal Savings Bank at 851 South Beltline Highway

On June 4, 2012, Joshua inquired about borrowing $21,000 from The Citizens Bank of Georgiana with Lorenza, their friend from just outside Mobile, and even with the co-signer, Joshua was rejected for this mortgage. With fair credit, it can be difficult to obtain funding, even with collateral and a co-signer.

Paraphrased and Standardized Quote from Joshua for this mortgage of $87000, provided by Altus Federal Savings Bank

Hi, I am Joshua and I’m from Mobile in Alabama. Mobile, county is where I grew up, and now I need a mortgage in Alabama for $87000 to buy a car. It has been difficult, but Altus Federal Savings Bank really came through for me with this loan for 9.6% interest APR and a term of 18 years. I can probably repay the loan over the 18 year term, including interest. A big thanks to Altus Federal Savings Bank for giving me a chance and my fair credit. It look me 7 years to create my credit to 577, and I won’t harm it any more. I am pleased with Find Texas Loans for assisting me this far.

Fast Loans for Joshua in Mobile, Alabama to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in Mobile, Alabama aren’t actually that difficult to obtain, particularly if you have some gumption like Joshua. Joshua was able to find a fast loan for $87000 from BankTrust of Brewton and Merchants Bank of Alabama, but turned down both offers in favor of their mortgage from Altus Federal Savings Bank. The difference with a fast loan over a personal loan is in speed. Fast loans normally are processed within 1 – 3 weeks, versus up to 5 weeks for debt consolidation loans. An improvement if a borrower is in a pinch.

Before applying for this mortgage, Joshua had an Experian score of 590, which is fair, so Altus Federal Savings Bank probably cannot provide Joshua a mortgage

Experian Score: 590

Personal Loan for an environmental technician named Joshua in Mobile, Alabama to Pay Off Justice FCU Visa Gold Card

Joshua had a lot of credit card debt on their Merrill Lynch EMA Signature Rewards and their Merrill Lynch Business Signature Rewards, and they were starting to get in over their heads. Despite Joshua’s job as an environmental technician, they struggled to make payments on the $27,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Conclusion of Joshua’s mortgage

In the end, Joshua was able to find a mortgage for $87000 with an interest rate of 6.3% interest APR from Altus Federal Savings Bank in Mobile, Alabama repayable over 18 years from today.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

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.