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This page was last updated August 2021

Commentary for informational purposes only. See disclaimers here.

Best Bad Credit Loans for 2020

Fair Credit Lenders in Kansas City MO

Lenders: contact us for listing removal.

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Kansas City Credit Union
5110 Ararat Dr Kansas City
MO 64129 - www.kccu.net
816.861.5700

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Missouri Credit Union
6220 Blue Ridge Cutoff, Kansas City
MO 64133, 816.313.0011
www.creditunionlocations.com

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Metropolitan Federal Credit Union
4420 Madison Ave #104, Kansas City
MO 64111 - www.metfedcu.org
816.931.4164

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CommunityAmerica Credit Union
9060 NW Skyview Ave, Kansas City
MO 64154 - www.communityamerica.com
913.905.7000

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Crossroads Credit Union
4357 N Chouteau Trafficway
Kansas City, MO 64117
www.crossroadscu.com
816.483.4574

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Mazuma Credit Union - Gladstone
301 NW Englewood Rd, Kansas City
MO 64118 - www.mazuma.org
913.574.5000

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K C Area Credit Union
601 E 12th St, Kansas City
MO 64106 - www.kcareacu.com
816.936.5050

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CSD Credit Union
8510 Bannister Rd, Kansas City
MO 64134 - www.csdcu.org
816.763.4020

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Greater KC Public Safety CU
2800 E 14 St, Kansas City
MO 64127 - www.publicsafetycu.org
816.504.2800

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Scientific Research Partners CU
425 Volker Boulevard Kansas City
MO 64110 - 816.753.7600

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Bad Credit Loans in Kansas City MO

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)
Learn about GAP (Gift Angel Program)

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Kansas City MO Lender Area Map

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Kansas City MO Loan App Volume

Top 5 Kansas City neighborhood loan app volume

WWI Museum in Kansas City Missouri: Licensing

Kansas City Consolidation Example

Jaime and his wife plan to retire in a few years and they have lots of plans for their home and for retirement.

One of their plans includes updating their home before they retire so that they get all of the big projects out of the way.

They figure they will need about $70000 to consolidate all of their debts and the renovation costs they will have.

They plan to take out a new mortgage with a twenty five year term to keep the monthly payments as low as possible.

No one really wants to retire with a mortgage still to pay, however they have a plan for that too.

They expect to downsize their home once they retire and move to a new location. They are still working on just where that will be, but they have lots of time to figure that out.

When they sell their home, this mortgage will be fully discharged and they will be mortgage free in their retirement.

They will have a few years to enjoy the renovations they make to their home and their real estate agent advises them that the improvements they are going to make will also increase the market value of the home as well.

Looks like a well thought out plan. Now they just need a mortgage for their home to be approved and they can get started on renovations. They will need $70000 to do all of the work they plan.

A $70000 loan with an twenty five-year term and 4.8% interest rate for Jaime would cost him the following per month:

Loan Amount (principal) = $70000
Interest Rate = 4.8%
Term Length = 25 year
Monthly Payment = $401.10
Total Paid Back = $120329.36
Total Interest = $50329.36

The mortgage payment for Jaime and his wife will be just a little over $400 a month. Considering they have no other debts other than utilities and taxes, this is very affordable for them.

They have an excellent credit rating and their credit utilization is also in good shape. They should have no problems being approved for this mortgage consolidation loan.

Before the funds can be advanced to them, their home will need to be appraised to establish the current market value of the home.

The lender always wants to ensure that the home has sufficient equity in it to secure the loan or mortgage that will be registered against it. This is a standard process before any mortgage of this size when a home is used as collateral.

Another option for Jamie and his wife is to apply for a line of credit. A line of credit would allow Jamie to draw on the loan as he needs money to pay renovation bills rather than receive the entire loan proceeds all at once.

He would also be able to pay as much or as little each month as he is comfortable with. His minimum payment each month is the accrued interest on the outstanding balance.

Jaime is assessing this suggestion and will make a decision along with his wife in a few days regarding what approach they want to take.

If you're living in Kansas City like Jaime, and need a loan regardless of your credit rating, we may be able to help you find a willing lender.

Sincerely,

Chris Somerset

Chris Somerset is a writer for the WFL Project.

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Upgrades Nearest Kansas City MO

Job/Income Upgrades: Indeed / Snag-A-Job

Education Upgrades: College / University

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Kansas City Credit Counseling

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Counselors contact us for listing removal or info change.

Kansas City Credit Services Inc
2016 Swift St North Kansas City
MO 64116 - www.kccreditservices.com
816.421.8001

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Credit Glory Credit Repair
2331 Myrtle Ave, Kansas City
MO 64127 - creditglory.com
800.807.4388

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Kansas City Non-Profit Services

Food Bank: Harvesters / Address: 3801 Topping Avenue, Kansas City, MO 64129 / Phone: 816.929.3000

Hot/Cold Meals: Kansas City Community Kitchen / Address: 750 The Paseo, Kansas City, MO 64106 / Phone: 816.561.8920

Shelter In Case of Eviction: City Union Mission Family Center for Women and Children / Address: 1310 Wabash Avenue, Kansas City, MO 64127 / Phone: 816.474.9380 / City Union Mission for Men / Address: 1108 East 10th Street, Kansas City, MO 64106 / Phone: 816.474.9380

Social Assistance Programs: Community Action Agency of Greater Kansas City / Address: 6323 Manchester Avenue, Kansas City, MO 64133 / Phone: 816.358.6868

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Usury Law Governing Kansas City MO

Summary of Missouri Usury Law(s) / Legal: 9% / Contract: 10% for quarter beginning 1 /1/ 10 ; any rate business loans of $5,000 or more / Judgment: 9% / Corporate: Any rate (read more on Missouri lending laws)

Complaint process for Kansas City residents:

Missouri Division of Finance / Missouri Complaint Process / Complaint Form (PDF)

Physical Address: Missouri Division of Finance / P. O. BOX 716, Jefferson City, Missouri 65102-0716 / Phone: 573.751.3242 / Fax: 573.751.9192 / Email: finance@dof.mo.gov

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