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Mortgage Of $98000 For Fair Credit Arkansas Resident

$98000 Mortgage – Conway Arkansas, Credit Score Of 550

  • Experian: 563 – This individual had a fair Experian rating
  • Transunion: 537 – Scottie had a fair credit rating with Transunion.
  • Equifax: Scottie’s Experian score was 550, which is a fair credit score with the Experian rating scheme.

Contact Details for Central Arkansas Savings and Loan Association, the provider of this mortgage

  • Central Arkansas Savings and Loan Association
  • City: Conway
  • State: Arkansas
  • Address: 1001 Front Street
  • County: Faulkner
  • Zip code: 72032

Before applying for this mortgage, Scottie had an Experian score of 563, which is fair, so Central Arkansas Savings and Loan Association likely cannot provide Scottie a mortgage

Experian Score: 563

Client Profile: Scottie Beckstead of Conway, Arkansas
  • Full name (Changed if requested): Scottie Beckstead
  • Current Credit: loans.hit.utils.Fico@5e8c92f4
  • Current City: Conway
  • State: Arkansas
  • Zip code: 72035
  • Yearly income: $64,000
  • Current Job: cement mason
  • Current County: Faulkner
  • Goal Yearly Income: $149,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $3000

Fast Loans for Scottie in Conway, Arkansas to prevent bankruptcy or harm from debt collectors.

Fast loans in Conway, Arkansas aren’t actually that difficult to obtain, especially if you have some finesse like Scottie. Scottie was able to find a fast loan for $98000 from Bank of Prescott and Peoples Bank and Loan Co., but declined both offers in favor of their mortgage from Central Arkansas Savings and Loan Association. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 7 weeks for debt consolidation loans. A big difference if you are on the go.

Scottie was rejected by Citizens First Bank 7 times before being approved by Central Arkansas Savings and Loan Association at 1001 Front Street

On August 30, 2012, Scottie applied about borrowing $33,000 from Bank of Bentonville with Ami, their friend from just outside Conway, and even with the co-signer, Scottie was rejected for this mortgage. With fair credit, it can be very hard to procure financing, even with collateral and a co-signer.

Scottie’s Transunion score was altered by the mortgage loan, changing to 537 from 550, which is normal in our experience.

Transunion Score: 537

Installment loan for Scottie, a graduate of Concordia University Chicago and a cement mason working for over $63,000 per year

Scottie, an alumnus at Concordia University Chicago and a cement mason in Conway, Arkansas wants a mortgage to purchase something frivolous. Scottie has instead chosen to get an installment loan for $12,000 and is currently seeking lenders like First Bank to process their request.

Multiple previous requests for credit have been made by Scottie in the past, including one from Anchor Savings Association in Conway, Arkansas before Scottie was accepted for the $98000 by Central Arkansas Savings and Loan Association

Scottie made 8 previous tries to obtain a mortgage, 2 of which were with Anchor Savings Association, a bank in Conway, Arkansas known to specialize in mortgages specifically. Prior to finding Central Arkansas Savings and Loan Association, Scottie was desperate due to their inexperience and fair credit score.

When Scottie was 23, they attempted to obtain a student loan from 6 alternate lenders, which damaged their credit score. Below is a chronology of Scottie’s prior attempts at finding a student loan:

  • Attempt 1) Loan for $39,000.00 on February 20, 2013
  • Attempt 2) Loan for $25,000.00 on December 20, 2010
  • Attempt 3) Loan for $34,000.00 on October 12, 2008
  • Attempt 4) Loan for $30,000.00 on July 1, 2009
  • Attempt 5) Loan for $21,000.00 on October 9, 2008
  • Attempt 6) Loan for $34,000.00 on March 16, 2010

Previous requests on Scottie’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$124140.00 9 5.8% $1478.15 Bank of Weiner October 7, 2010
$124190.00 7 8.1% $1941.85 Horizon Bank August 19, 2012
$123580.00 8 9.4% $1836.22 Warren Bank and Trust Company October 3, 2014
$123900.00 7 5.4% $1774.57 Boatmen’s Bank of Northeast Arkansas January 7, 2015
$124230.00 5 10.1% $2645.64 The Security Bank May 24, 2015

Scottie’s Overall FICO score at the time of acceptance for a mortgage, taking into account their cement mason job and their future career as a residence counselor

Fico Score: 550

7 Months Ago, Scottie Attempted Finding a High Risk Loan for $39,000.00, and it was Easy

It is an ongoing struggle for clients to find high risk loans in a safe manner. Many high risk loans end up originating loan sharks or the like, which can be physically harmful to borrowers like Scottie. Scottie decided not to get a high risk loan this time. High Risk loans are given to very low credit individuals. Borrowers with credit scores as low as 576 can inquire for a high risk loan and may be be accepted.

Paraphrased and Standardized Quote from Scottie for this mortgage of $98000, provided by Central Arkansas Savings and Loan Association

Hello, I am Scottie and my hometown is Conway in Arkansas. Faulkner, county is where I grew up, and now I need a mortgage in Arkansas for $98000 to renovate my home. It has been difficult, but Central Arkansas Savings and Loan Association really came through for me with this loan for 10.5% interest APR and a term of 3 years. I can repay the loan over the 3 year term, including interest. A big thanks to Central Arkansas Savings and Loan Association for giving me a chance and my fair credit. It look me 9 years to build my credit to 550, and I won’t harm it any future. I’m pleased with Find Texas Loans for assisting me this far.

Signature Loan found in Conway, Arkansas for $98000 with fair credit by Scottie

A lot of borrowers struggle with finding signature loans in Conway, Arkansas, and Scottie is the same. Scottie went to 5 lenders or more prior to finding Central Arkansas Savings and Loan Association, who offered Scottie a signature loan for $98000. Typical signature loans simply need a client, like Scottie’s signature to get them, up to $32,000 in some cases. Scottie was able to get $98000 as a mortgage, which is very high for a mortgage. Since signature loans don’t need a cosigner, these loans tend to need improved credit, as high as 725

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

Normal debt consolidation loans vary from $20,000.00 to $56,000.00. They are normally used to pay off existing high interest loans like credit cards. Scottie needed a debt consolidation loan to pay for their existing mortgage and their payday loan. Scottie was able to find a mortgage in the end. Debt consolidation, or just consolidation, is a technique in the strategic borrowing method which converts your less desirable, catastrophically high interest loans to a single lower interest loan. Debt consolidation loans generally have interest rates as low as 4.7%.

Personal Loan for a cement mason named Scottie in Conway, Arkansas to Pay Off CoreFirst Bank & Trust Classic Visa

Scottie had a lot of credit card debt on their Facecard Prepaid Teen MasterCard and their First National Bank Maximum Rewards Visa Card, and they were starting to get in over their heads. Despite Scottie’s job as a cement mason, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

Scottie has a sad current yearly income, but has a large amount of prospects

Scottie has always wanted to be a residence counselor, but would have to attend Concordia University Chicago again to achieve it. Scottie has other possibilities as well, including nursing professor, professional sports scout, and sales floor stock clerk, which pay $57,000 through to $96,000 per year, on average. For this reason, we think that Scottie can pay for this mortgage of $98000.

Conclusion of Scottie’s mortgage

In the end, Scottie was able to find a mortgage for $98000 with an interest rate of 6.8% interest APR from Central Arkansas Savings and Loan Association in Conway, Arkansas repayable over 3 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.