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Magdy Has An Experian Score Of 495, And Gets $30000 From Citizens Savings And Loan Association

If you are looking for a $30,000 loan with a 495 credit score, you will have limited options finding a loan. If you have equity in your home, you can apply for a home equity loan or a home equity line of credit or even look at refinancing your existing mortgage. If you have equity in your vehicle, there are providers that will help you to access this capital without having to apply for a car title loan. If you and your partner can apply together for a personal loan, this may be an option as well. Another option is finding someone to co-sign the loan for you. If you are looking for a personal loan for a lower amount, there are a few options for a bad credit personal loan with a credit score starting at 500. The most important step when you have a 495 credit score is trying to improve your credit score and we have a free provider to help you with this step. We have broken down all of these options below for your review. 

Debt to Income Ratio

Debt to income looks at the amount you make every month and the amount you spend. They call this a debt to income ratio and we have inserted a debt to income calculator below to see if you are below 50%. Many lenders will not even look at a loan application with bad credit while others will look at your equity and maybe request a larger lien on the property.  

Home Equity Loans

When a lender looks at your home for a home equity loan, they are looking at placing a second mortgage on your home.  When you have good credit and the bank looks to provide a home equity loan, they will finance the property up to 80-90% of the loan to value. The loan to value is the difference between the size of the mortgage and what you will get if you sold the property. With bad credit, the loan to value may drop to 60 to 70%. 

Auto Refinance

We have included a provider that works with over 1,000 mortgage providers and we believe will give you the best chance of finding a bad credit loan. you can also apply for a personal loan but with a 495 credit score, you will not be approved for more than $1,000 and the rates will be very high.

Cash - Out Refinance

A simple definition for cash-out refinance is paying off your existing mortgage with a new mortgage then adding cash to the new mortgage. You can contact a mortgage provider and apply for cash-out refinancing. When you have bad credit this can be very difficult. Here are a few steps that you need to check into before taking this step.

  1. Look at your existing mortgage and see if there any penalties for paying off the mortgage early. These fees can be very high and you need to calculate this first 
  2. You would go to a new mortgage provider and negotiate a new mortgage to pay off the mortgage that you have now.
  3. You would add the additional capital you require to the new mortgage your applying for.
  4. You will need to explain why your credit score and if you are paying off debt with the new loan amount. If the money is for debt consolidation, the mortgage provider will complete the debt to income ratio with the debt you're paying off removed from your debt to income ratio.   

Joint Loan or Finding a Co-signer 

When you go to the lender to apply for a loan, you will see in the loan application where you can apply jointly.

Improve Your Credit Score

Novita offers a free service to help you improve your credit score. Contact them today to get started. 

 

Bad Credit Loan Providers

America loan Service was Contacted by Madgy looking for a $30,000 loan with a 495 credit score. This was how they worked through financing their debt.

Magdy is an aircraft assembler from San Francisco, California who needs $30,000 to pay off credit card debt. They were going through a divorce and his partner took a cash advance on the credit card and left her with the bill.  The debt was over $30,000, and Magdy only made $73,000 per year after tax. She is in trouble now, and a personal or debt consolidation loan would really help. Going through this separation has taken both of us off managing our finances and has ruined my credit score. 

Magdy made an effort to get a private loan for $98,000.00 and was not accepted

Principle of LoanLength of Term (Years)Interest Rate (APR)Monthly Installment PaymentLending Institution
$98190.00 6 11.8% $1909.44 Southern California First National Bank
$98160.00 5 8.2% $1999.74 First Trust Bank
$97510.00 4 7.6% $2362.24 Community First National Bank

Magdy has a private loan from 5 years before of $31,000 lent by The First National Bank of Orange County 

Starting Interest Rate (APR)Remaining principleLender nameLender cityLender StateLoan Obtained
10.1% APR $21210.21 outstanding Santa Monica Bank Santa Monica California
11.1% APR $18839.92 outstanding Farmers and Merchants Bank of Long Beach Long Beach California
11.7% APR $28945.33 outstanding First Interstate Bank of California Los Angeles California
10.4% APR $28677.72 outstanding Union Bank Los Angeles California
6.2% APR $23691.2 outstanding Citizens Commercial Trust and Savings Bank of Pasadena Pasadena California

Magdy got accepted by Citizens Savings and Loan Association with their bad credit rating. Here is their relevant information after the co-signer.

  • Citizens Savings and Loan Association
  • Street Address: 700 Market Street
  • Branch city: San Francisco
  • Branch state: California
  • Branch zip code: 94102

With the Fico scale, Magdy has a bad credit rating of 495

Fico Score: 495

On the Transunion scale, Magdy has a bad credit score of 482. This rating alters how lenders will view them, and thus, the APR on their loan

Transunion Score: 482

On the Experian scale, Magdy has a bad credit score of 509, which may have impacted their loan interest

Experian Score: 509

Comment after getting a loan from Citizens Savings and Loan Association at 700 Market Street: We used our home for collateral and both our of had to sign for the home equity loan. It did cost us nearly $800.00 in feess to get the loan completed and we are in the process of selling the house to settle the divorce. The interest rate of 6.18%. The amount of $30000 was chosen as this was the amount of credit card debt we needed to pay off. Will take over a year to get my credit score back to a respectable number. 

Magdy Was Interested In A Private Loan For No More Than $30000

I'm Magdy, I live in San Francisco, California. My stupid husband tried to stick me with $30,000 in credit card debt and I need a loan to pay it off. Can you give me some help with a loan? 

Client Data: Magdy
  • County: San Francisco
  • Home State: California
  • Current zip code: 94105
  • Current income: undisclosed
  • Profession: aircraft assembler
  • Credit Card Debt: $7000 on their The NASA Federal Visa Platinum with CashRewards

Debt Consolidation With 5.78% Apr, A Brilliant Idea

A debt consolidation loan is an excellent way to pay off credit card debt is you have good to excellent credit. With a good to excellent credit score, you will be offered a debt consolidation loan with an interest rate ranging from 5% to 8% to pay off 20% interest credit cards. the rate offered will depend on your credit history and credit score.    

While the situations described are accurate, the names and some locations have been changed to protect our readers. America Loan Service would like your input regarding our work. Please do not give America Loan Service your last name and try to keep the information in your comments quite general. It is the overall topic that people relate with and we appreciate your comments. When you send your story, they will be reviewed within 24 hours and you will be notified if they are used.

Related Posts

  1. 1) 7 month fast loan of $16000 with a bad FICO credit score of 446
  2. 2) 24 year consolidation loan of $100000 with a fair FICO credit score of 567
  3. 3) 19 year debt consolidation loan of $8000 with a fair FICO credit score of 518
  4. 4) Sterling receives a quick loan of $98000 with a bad FICO credit score
  5. 5) 11 month high risk loan of $81000 with a bad FICO credit score of 496

Past Applications

Application from: Bow

City: Sanford
State: Florida
Credit Rating (FICO): 314
Profession: law professor
Amount Requested: $60000
Age: 35
Current Debt: 33,000
Yearly Income: 35,000
Zip Code: 32771

Message:

hi have tried this before. my husband and me have made some bad purchases we have 3 credit cards and maxed our spending to the total amount each cards allowed us. we used all cards to buy furniture for our house. all we can pay the minimum payment and are so far behind. we need to only have 1. My credit is ok: 667. I are hoping to get around $28,000.00

Reply to: Bow

Application from: Darryle

City: Tremont
State: Pennsylvania
Credit Rating (FICO): 542
Profession: school nurse
Amount Requested: $12000
Age: 53
Current Debt: 19,000
Yearly Income: 95,000
Zip Code: 17981

Message:

I am attenting Howard University in Tremont Pennsylvania. I was able to get a student loan backed by the Federal Government. it does not cover all of my expenses. I require another loan to cover my rent & groceries. I am wanting somewhere between $12,000.00 I need a co-signer and have good creidt. I am 21 years old.

Reply to: Darryle

Application from: Carmita

City: San Antonio
State: Texas
Credit Rating (FICO): 756
Profession: field health officer
Amount Requested: $98000
Age: 29
Current Debt: 49,000
Yearly Income: 48,000
Zip Code: 78216

Message:

i am needing a lone I live in San Antonio Texas and work in San Antonio. our van is written off and we need money to buy it. our credit is low. we already have credit cards and aren't behind on monthly paymnt. I went to First State Bank of Matador and Brownfield State Bank & Trust Co. but they said they can't help us. do you help us.

Reply to: Carmita

Application from: Sally J

City: Bishopville
State: Sc
Credit Rating (FICO): 509
Profession: Profession not given
Amount Requested: $1000
Age: 38
Current Debt: Credit card
Yearly Income: 14000
Zip Code: 29010

Message:

Need Help

Hi Sally,

America Loan Service has a lender that starts at $500.00 to $35,000.00 and will pass your request along. With your Fico score of 509, we will forward this on for you, good Luck. We have a very good lender that fits the amount of capital you require. America Loan Service is not a lender. America Loan Service has no influence on the lenders decisions and the financial relationship will be between you and the institution providing the loan. We will forward your information onto the lender we feel best suits your requirements. They will contact you directly via email if they are able to help you based on the criteria you have provided. Wishing you success in finding what you are looking for. Best wishes America Loan Service team

Reply to: Sally J

Application from: Gurwinder

City: Joaquin
State: Texas
Credit Rating (FICO): 512
Profession: custom tailor
Amount Requested: $28000
Age: 59
Current Debt: 6,000
Yearly Income: 98,000
Zip Code: 75954

Message:

I am attenting Georgia Institute of Cosmetology in Joaquin Texas. I was able to get a student loan backed by the Federal Government. it does not cover all of my expenses. I require another loan to pay for my rent & groceries. I am need somewhere between $13,000.00 I need a co-signer and have good creidt. I am 18 years old.

Reply to: Gurwinder

Application from: Claire

City: SAN JOSE
State: California
Credit Rating (FICO): 509
Profession: Profession not given
Amount Requested: $12000
Age: 43
Current Debt: 10000
Yearly Income: Income Not Specified
Zip Code: 95133

Message:Need to raise my crefit score by paying off debt. But can't get a loan because credit scre too low! Catch 22! Seriously trying to get it together and just can't get ahead because of my debt.

Reply to: Claire

Application from: Raquel L

City: Winnie
State: Texas
Credit Rating (FICO): 509
Profession: Server
Amount Requested: $5000
Age: 33
Current Debt:
Yearly Income: 20000
Zip Code: 77665

Message:

Reply to: Raquel L

Application from: brandon*

City: collinwood
State: tn
Credit Rating (FICO): 495
Profession: Profession not given
Amount Requested: $2500
Age: Age not given
Current Debt:
Yearly Income: Income Not Specified
Zip Code: 38450

Message:Hi Brendon, You will have to come back again and provide us an email address then we can send you an option. Check out back credit loans on our site.

Reply to: brandon*

Application from: Kirby*

City: Newark
State: New Jersey
Credit Rating (FICO): 495
Profession: United States Postal Service
Amount Requested: $1000
Age: 25
Current Debt:
Yearly Income: Income Not Specified
Zip Code: 7108

Message:Hi Kirby, We have one loan provider that will consider loans with a credit score of 495. We will email you the link.

Reply to: Kirby*

M
Melissa M.

September 30th, 2021

my score is 547 n I can't find anyone to approve even 500 loan behind on bills need help plz email me this info as well melissamilligan1702@gmail.co thank u

Application from: Lakahia Dixon

City: Washington
State: DC
Credit Rating (FICO): 509
Profession: Profession not given
Amount Requested: $3500
Age: Age not given
Current Debt:
Yearly Income: Income Not Specified
Zip Code: 20017

Message:Need money to help pay for my fathers funeral cost asap

Reply to: Lakahia Dixon

Application from: Janie*

City: Ernul
State: Nc
Credit Rating (FICO): 495
Profession: Registered Nurse
Amount Requested: $20000
Age: 45
Current Debt: 19000
Yearly Income: 65000
Zip Code: 28527

Message:Would like to consolidate into 1 bill and repair my credit. I would like to advance my education to FNP You will have to repair your credit first.

bad credit score repair

Reply to: Janie*

Application from: HEATHER*

City: Lewiston
State: Mi
Credit Rating (FICO): 522
Profession: Disability
Amount Requested: $7000
Age: 34
Current Debt:
Yearly Income: 20000
Zip Code: 49756

Message:I bought a home and need a few major repairs done, asap! Hi Heather, Try this for a home equity loan.

Home Equity Loan

Reply to: HEATHER*

Application from: John

City: Florissant
State: Missouri
Credit Rating (FICO): 495
Profession: Transportation
Amount Requested: $4000
Age: 44
Current Debt:
Yearly Income: 36000
Zip Code: 63031

Message:

About to lose car need help

Reply to: John

Application from: Jerry

City: Marietta
State: GA
Credit Rating (FICO): 498
Profession: Customer service and Culinary
Amount Requested: $15000
Age: 31
Current Debt: 9000
Yearly Income: 12500
Zip Code: 30008

Message:

I need a ram in a bush.. a serious miracle.

Reply to: Jerry

Application from: Mohammed

City: 104 Shawn ct
State: North Carolina
Credit Rating (FICO): 495
Profession: Tinter
Amount Requested: $1000
Age: 26
Current Debt: 3000
Yearly Income: 28500
Zip Code: 27804

Message:

I need help to get my life together. I don't know if that's possible. Idk if I can get more the 1000.

Reply to: Mohammed

Application from: James

City: Newbury park
State: California
Credit Rating (FICO): 495
Profession: Profession not given
Amount Requested: $8000
Age: Age not given
Current Debt:
Yearly Income: 36000
Zip Code: 91320

Message:

I am looking for a loan to cover some expenses after moving

Reply to: James

Application from: Kim

City: Haleyville
State: AL
Credit Rating (FICO): 495
Profession: Profession not given
Amount Requested: $5000
Age: 50
Current Debt: 11000
Yearly Income: Income Not Specified
Zip Code: 35565

Message:

I recently got divorced, the divorce has caused me great financial difficulties my FICO score and credit score are ruined. My ex-husband still makes inquiries about my credit making my credit score even lower. I have tried to remove the stuff from my credit report, was involved with credit repair debt solutions and still nothing. I am in need of a loan I have tried everywhere on the internet to find some kind of loan and unable to please help

Reply to: Kim

Application from: Jessie

City: Des Plaines
State: Iowa
Credit Rating (FICO): 495
Profession: Customer support
Amount Requested: $2000
Age: 23
Current Debt: 750
Yearly Income: 22000
Zip Code: 51566

Message:

Newly Single mom, needing a little help getting my car fixed.

Reply to: Jessie

Application from: Saundra

City: Phoenix
State: Arizona
Credit Rating (FICO): 494
Profession: Medical Biller
Amount Requested: $15000
Age: 49
Current Debt: Outstanding/Open: $3312; Student Loans: $36257.88 working with Trust Arrow to place loans in Deferrment.
Yearly Income: 37400
Zip Code: 85015

Message:

I need to consolidate all bills into one monthly payment and purchase an economical used vehicle to use for work. I spend a lot of money of Lyft and Uber each month to get to the places I have to go to. That money could be better spent on my monthly bills and repaying this loan. Thank you for taking the time to consider my request.

Reply to: Saundra

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