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$62000 Mortgage With Good Credit In New Iberia Louisiana

$62000 Mortgage – New Iberia Louisiana, Credit Rating Of 629

  • Experian: 639 – They had a good Experian rating
  • Transunion: 615 – Madie had a good credit score with Transunion.
  • Equifax: Madie’s Experian score was 629, which is a good credit score on the Experian rating scheme.

Signature Loan easily acquired in New Iberia, Louisiana for $62000 with good credit by Madie

A lot of clients struggle with obtaining signature loans in New Iberia, Louisiana, and Madie is the same. Madie went to 5 lenders or more before settling on First Federal Savings and Loan Association, who offered Madie a signature loan for $62000. Most signature loans simply need a client, like Madie’s signature to obtain them, up to $34,000 in some cases. Madie was able to get $62000 as a mortgage, which is very high for a mortgage. Because signature loans don’t need a cosigner, they tend to need better credit, as high as 773

Madie’s Transunion score was changed by the mortgage loan, changing to 615 from 629, which is typical in our experience.

Transunion Score: 615

Previous requests on Madie’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$91800.00 6 8.5% $1632.06 Bank of Zachary January 6, 2011
$91750.00 7 11.8% $1609.84 Landmark Bank August 26, 2012
$92470.00 3 7.3% $2867.91 Bank of Gonzales November 26, 2013
$91710.00 7 11.2% $1579.96 The Highlands Bank August 25, 2014
Client Profile: Madie Meech of New Iberia, Louisiana
  • Full name (Changed if requested): Madie Meech
  • Current Credit: loans.hit.utils.Fico@2328c243
  • Current City: New Iberia
  • State: Louisiana
  • Zip code: 70563
  • Yearly income: $40,000
  • Current Job: executive secretary
  • Current County: Iberia
  • Goal Yearly Income: $141,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $5000

Contact Details for First Federal Savings and Loan Association, the provider of this mortgage

  • First Federal Savings and Loan Association
  • City: New Iberia
  • State: Louisiana
  • Address: 320 East Main St
  • County: Iberia
  • Zip code: 70560

Madie’s Overall FICO score at the time of acceptance for a mortgage, taking into account their executive secretary job and their future career as an elevator mechanic

Fico Score: 629

Madie was declined by Bank of Oak Grove 6 times before being accepted by First Federal Savings and Loan Association at 320 East Main St

On May 1, 2010, Madie inquired about borrowing $37,000 from The Premier Bank of South Louisiana with Edmund, their in law from just outside New Iberia, and even with the co-signer, Madie was rejected for this mortgage. With good credit, it can be very hard to obtain financing, even with collateral and a co-signer.

Installment loan for Madie, a graduate of Hawkeye Community College and an executive secretary working for over $79,000 per year

Madie, an alumnus at Hawkeye Community College and an executive secretary in New Iberia, Louisiana needs a mortgage to purchase a new cell phone. Madie has instead chosen to obtain an installment loan for $16,000 and is currently seeking lenders like The First National Bank of Jeanerette to provide it.

Fast Loans for Madie in New Iberia, Louisiana to prevent bankruptcy or bodily harm from debt collectors.

Fast loans in New Iberia, Louisiana aren’t actually that difficult to obtain, especially if you have some finesse like Madie. Madie was able to find a fast loan for $62000 from Bank of Ringgold and Bank of Greensburg, but declined both offers in favor of their mortgage from First Federal Savings and Loan Association. The difference with a fast loan over a installment loan is in speed. Fast loans typically are processed within 1 – 3 weeks, versus up to 6 weeks for installment loans. A big difference in the case that you are in a time sensitive situation.

Paraphrased and Standardized Quote from Madie for this mortgage of $62000, provided by First Federal Savings and Loan Association

Hi, I am Madie and I’m from New Iberia in Louisiana. Iberia, county is where I grew up, and now I need a mortgage in Louisiana for $62000 to buy a big ticket item. It wasn’t easy, but First Federal Savings and Loan Association really came through for me with this loan for 6.7% interest APR and a term of 20 years. I can probably repay the loan over the 20 year term, including interest. A big thanks to First Federal Savings and Loan Association for trusting me and my good credit. It look me 6 years to build my credit to 629, and I won’t tarnish it any more. I am happy with Find Texas Loans for assisting me this far.

Madie has a very low current total income, but has a large amount of prospects

Madie has always wanted to be an elevator mechanic, but would have to attend Hawkeye Community College again to become one. Madie has other prospects as well, including farm equipment mechanic, elementary school administrator, and railroad inspector, which pay $59,000 through to $99,000 per year, on average. For this reason, we think that Madie can afford this mortgage of $62000.

Debt Consolidation Can Assist Any Highly Indebted Borrower to Escape Bad Debts like Payday Loans

Normal debt consolidation loans range from $38,000.00 to $53,000.00. They are normally used to pay off existing high interest loans like credit cards. Madie required a debt consolidation loan to pay for their existing mortgage and their loan shark loan. Madie was able to find a mortgage in the end. Debt consolidation, or simply consolidation, is a technique in the debt snowball method which converts your bad, high interest loans to a single reduced interest loan. Debt consolidation loans usually have interest rates as low as 2.2%.

6 Months in the Past, Madie Attempted to Find a High Risk Loan for $28,000.00, and it was Easy

It is an well known struggle for clients to get high risk loans in a safe way. Many high risk loans end up coming from loan sharks or the like, which can be frightening to borrowers like Madie. Madie decided not to get a high risk loan this time. High Risk loans are the instrument of choice, and are given to terrible credit clients. Borrowers with credit scores as low as 406 can apply for a high risk loan and possibly can be approved.

Several past requests for credit have been made by Madie in the past, including one from Citizens First Bank in New Iberia, Louisiana before Madie was approved for the $62000 by First Federal Savings and Loan Association

Madie made 4 previous attempts to obtain a mortgage, 2 of which were with Citizens First Bank, a bank in New Iberia, Louisiana known to specialize in mortgages specifically. Before finding First Federal Savings and Loan Association, Madie was desperate due to their inexperience and good credit score.

Before applying for this mortgage, Madie had an Experian score of 639, which is good, so First Federal Savings and Loan Association probably cannot provide Madie a mortgage

Experian Score: 639

Personal Loan for an executive secretary named Madie in New Iberia, Louisiana to Pay Off Fulton Bank Visa Business Bonus Rewards Card

Madie had a tonne of credit card debt on their Tampa Bay Rays BankAmericard Cash Rewards MasterCard and their CFCU Business Visa, and they were starting to get in over their heads. Despite Madie’s job as an executive secretary, they struggled to make payments on the $25,000.00 credit card balance, desperately needing assistance in the form of a personal loan.

When Madie was 22, they attempted to obtain a student loan from 7 alternate banks, which harmed their credit rating. Below is a list of Madie’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $20,000.00 on July 28, 2013
  • Attempt 2) Loan for $33,000.00 on November 22, 2010
  • Attempt 3) Loan for $20,000.00 on February 2, 2011
  • Attempt 4) Loan for $32,000.00 on August 9, 2013
  • Attempt 5) Loan for $29,000.00 on February 26, 2009
  • Attempt 6) Loan for $23,000.00 on September 15, 2010
  • Attempt 7) Loan for $37,000.00 on February 2, 2014

Conclusion of Madie’s mortgage

In the end, Madie was able to find a mortgage for $62000 with an interest rate of 5.5% interest APR from First Federal Savings and Loan Association in New Iberia, Louisiana repayable over 20 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.