Hello,
I am looking to apply for a personal loan for home repairs preferably up to 25k less if that is not possible. I wanted to see if anyone had advice on where my best bet would be. My score 8 scores are from the other day my Fico 9 scores are from the first of the month (next update two days from now). I recent bought a house and settled just over a week ago. It has reported yet. I am actively using the azero method. No missed payments on cc for almost three years aside. No collections. In come is 60k but just received a 10k raise will start next paycheck.
Who would be the most likely to approve me for close to this amount?
Do I report the mortgage if it doesn't start until July? I don't pay rent now.
Do I put the salary bump if I haven't recieved a paycheck with this amount yet?
@Anonymous wrote:Hello,
I am looking to apply for a personal loan for home repairs preferably up to 25k less if that is not possible. I wanted to see if anyone had advice on where my best bet would be. My score 8 scores are from the other day my Fico 9 scores are from the first of the month (next update two days from now). I recent bought a house and settled just over a week ago. It has reported yet. I am actively using the azero method. No missed payments on cc for almost three years aside. No collections. In come is 60k but just received a 10k raise will start next paycheck.
Who would be the most likely to approve me for close to this amount?
Do I report the mortgage if it doesn't start until July? I don't pay rent now.
Do I put the salary bump if I haven't recieved a paycheck with this amount yet?
Personal loans often involve POI, especially with borderline applicants.
If you want to use your current income, wait till you have at least 3 paystubs.
If it cannot wait, you should use "old" income because $10,000 is huge discrepancy.
As far as do you include future mortgage payment (future as in 31 days), you should. It would be dishonest not to, and it does play into your ability to pay back loan while keeping mortgage payments current.
Your scores are on a low side, so I wouldn't look outside of credit unions or your interest rate might exceed credit card interest. Unfortunately, in credit time three years ago isn't that "long time ago", it's more like "last month"
In addition to Penfed suggestion, check rates at local credit unions, that's probably your best bet.
Personal loans are harder to qualify for with decent terms because unlike with credit cards, typical risk mitigation tactics do not work.
You cannot be CLDed nor can they take their money back, and also, you cannot pick the amount you want to pay.
With CC lending, they can close or cld.
@Anonymous wrote:Hello,
I am looking to apply for a personal loan for home repairs preferably up to 25k less if that is not possible. I wanted to see if anyone had advice on where my best bet would be. My score 8 scores are from the other day my Fico 9 scores are from the first of the month (next update two days from now). I recent bought a house and settled just over a week ago. It has reported yet. I am actively using the azero method. No missed payments on cc for almost three years aside. No collections. In come is 60k but just received a 10k raise will start next paycheck.
Who would be the most likely to approve me for close to this amount?
Do I report the mortgage if it doesn't start until July? I don't pay rent now.
Do I put the salary bump if I haven't recieved a paycheck with this amount yet?
Amex does personal loans. Pen Fed has a pre approval site you can use