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Nebraska Lenders > Omaha

This page was last updated November 2018

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Fair Credit Lenders in Omaha NE

Lenders: contact us for listing removal.

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First Nebraska Credit Union
10655 Bedford Avenue, Omaha
NE 68134 / 402.492.9100
firstnebraska.org

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Omaha Federal Credit Union
4101 Woolworth Avenue #3748
Omaha NE 68105 / 402.399.9001
www.omahafcu.org

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Nebraska Credit Union League
4885 S 118th Street, Omaha
NE 68137 / www.nebrcul.org
402.333.9331

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SAC Federal Credit Union
7910 Cass Street, Omaha
NE 68114 / www.sacfcu.com
402.514.4970

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Metro Credit Union
14509 F Street, Omaha
NE 68137 / www.metrofcu.org
402.551.3052

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Gallup Federal Credit Union
1001 Gallup Drive, Omaha
NE 68102 / www.gallupfcu.com
402.938.6800

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Woodmen Federal Credit Union
1700 Farnam Street #1180, Omaha
NE 68102 / www.woodmenfcu.org
402.271.7285

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Union Pacific Streamliner FCU
1400 Douglas Street, Omaha
NE 68179 / www.upcu.org
402.544.2500

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Creighton Federal Credit Union
2575 Dodge Street, Omaha
NE 68131 / 402.341.2121
www.creightonfederal.org

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Four Points Federal Credit Union
510 N 127th Street, Omaha
NE 68154 / www.fourpointsfcu.org
402.281.1519

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Omaha Douglas Federal CU
8251 W Center Rd Omaha
NE 68124 / omahadouglasfcu.org
402.444.5999

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Bad Credit Loans in Omaha NE

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

Learn about GAP (Gift Angel Program)

 

Omaha NE Lender Area Map

Omaha Bad Credit Lenders Map - Initial Static Image

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Omaha NE Loan App Volume

Top 5 Omaha neighborhood loan app volume

  1. Near South
  2. Northwest Omaha
  3. Dundee
  4. Benson
  5. West Omaha

Desert Dome at Omaha Nebraska Zoo: Licensing

Omaha Bad Credit Loan Example

Patricia is really excited about the new home she just purchased. With the help of her parents she was able to purchase a small condo which she can now call her own.

Her dad had to co-sign for the mortgage. Although Patricia makes sufficient income to qualify for the mortgage, her bad credit rating prevented her from being approved for the mortgage without a co-signor.

Her dad will be on the hook for the payments if she is unable to meet the payment terms for the mortgage. He is also a co-owner as well, but she really thinks of this condo unit as her own place.

She wants to spend some money modernizing it. It was built in the 80's and the design and décor reflect this time period. She would like to update the unit in a more contemporary style which means pretty much everything has to go.

A new kitchen with new appliances and new bathrooms, along with paint on the walls and removal of the popcorn ceiling. The flooring is actually in pretty good shape and she only wants to upgrade the tiles in the small kitchen and bathrooms.

All these plans are going to cost big bucks! Patricia has a bad credit rating and she knows that she cannot ask her dad for any further help. In total she needs $40,000 to do everything she wants to do, however she knows that obtaining a bad credit loan is going to be difficult and possibly expensive as well.

A $40000 loan with a 20 year term 5.8% interest rate for Patricia would cost her the following per month:

Loan Amount (principal) = $40000
Interest Rate = 5.8%
Term Length = 20 year
Monthly Payment = $281.98
Total Paid Back = $67674.33
Total Interest = $27674.33

While Patricia would like a loan for $40,000, it is unlikely she will be approved for this amount. Between her poor credit score and her current mortgage payments along with utilities she is nearing the limit of what she can be approved for.

On the practical side, not all of this work can be completed all at the same time. She needs to be able to live in the unit while it is being remodeled.

Patricia and her dad are talking over her ambitious plans and also how they might be either scaled back or staged over a longer time period.

Either would reduce her loan requirement and / or allow her to take advantage of loan that is a line of credit. She would be able to draw on the loan only when she needs the funds to pay construction bills and repay the loan as funds are available.

A line of credit is not for everyone. Consumers need to have lots of discipline to use the loan wisely and to make regular payments. The accrued interest is the minimum monthly payment.

Patricia and her father are assessing the project, the costs, the timing and the improved value that remodelling will bring. Lenders are reviewing her application to provide the best product they can to help her meet her needs. They are confident she will meet her loan terms, with her dad as the co-signor for the loan.

If you're living in Omaha like Patricia, 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 Omaha NE

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

Education Upgrades: College / University

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Omaha Credit Counseling

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Counselors contact us for listing removal or info change.

Credit Advisors
1850 S 72nd Street Omaha
NE 68124 / 800.766.3328
www.creditadvisors.com

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GreenPath Financial Wellness
8031 W Center Road #225, Omaha
NE 68124 / www.greenpath.com
800.550.1961

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Tactical Credit Repair
5660 Marcy Street, Omaha
NE 68106 / 402.200.5772
omahacreditrepair.org


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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Omaha Assistance Programs

Food Bank: Food Bank for the Heartland / Address: 10525 J Street, Omaha, NE 68127 / Phone: 402.331.1213

Hot/Cold Meals: Open Door Mission / Address: 2726, 2828 N 23rd Street East, Omaha, NE 68110 / Phone: 402.422.1111

Shelter In Case of Eviction: Siena Francis House / Address: 1702 Nicholas Street, Omaha, NE 68102 / Phone: 402.341.1821

Social Assistance Programs: Stephen Center Hero Program / Address: 5217 S 28th Avenue, Omaha, NE 68107 / Phone: 402.715.5440

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Usury Law Governing Omaha NE

Summary of Nebraska Usury Law(s) / Legal: 6% / Contract: 16%; any rate for corporate loans and loans over $25,000 / Judgment: Nebraska judgment rate is 1% over average U.S. 52 week Treasury bill equivalent on date of judgment or as specified by law or by agreement / Corporate: Any rate (read more on Nebraska lending laws)

Complaint process for Omaha residents:

Nebraska Department of Banking and Finance / Nebraska Complaint Process / Nebraska Complaint Form (PDF)

Physical address: Nebraska Department of Banking & Finance / Financial Institutions Attn: Complaints, P.O. Box 95006, Lincoln, Nebraska 68509-5006 / Phone: Financial Institutions Division 402.471.2171 / Consumer Hotline: 877.471.3445

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WFL Loan Products

Omaha residents who require a fresh start with a bad credit loan to rebuild credit learn more here. Or, perhaps your score is just fair - you can learn more here. If you're in debt way over your head, you can learn about our debt consolidation solutions here.

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