Rutland VT
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Vermont Lenders > Rutland

This page was last updated September 2018

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Bad Credit Loan Testimonial Reviews

Fair Credit Lenders in Rutland VT

Lenders: contact us for listing removal.

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Credit Union of Vermont
2 S Main St Rutland
VT 05701 / cuvermont.coop
802.775.4462

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Heritage Family Credit Union
30 Allen Street, Rutland
VT 05701 / www.hfcuvt.com
888.252.8932

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Green Mountain Credit Union
3141 Cold River Road, Rutland
VT 05701 / greenmountaincu.com
802.776.1142

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VSECU
72 Seward Road, Rutland
VT 05701 / www.vsecu.com
802.371.5162

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Rutland County Municipal CU
77 Woodstock Avenue # A, Rutland
VT 05701 / 802.775.6448

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Bar Harbor Bank & Trust
484 Main Street, West Rutland
VT 05777 / www.bhbt.com
802.438.2370

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People's United Bank
87 West Street, Rutland
VT 05701 / branches.peoples.com
802.775.8500

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NBT Bank of Rutland
122 West St #101, Rutland
VT 05701 / www.nbtbank.com
802.747.6982

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Community Bank NA
286 Route 7 South, Rutland VT
05701 US, 286 US/7
Rutland, / VT 05701
www.communitybankna.com
802.747.5000

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Bad Credit Loans in Rutland VT

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

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Rutland VT Lender Area Map

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Rutland VT Loan App Volume

Top 5 Rutland neighborhood loan app volume

Downtown Rutland Vermont: Licensing/Credit

Rutland Bad Credit Loan Example

Francis and his wife just purchased a condo near the beach. They are really excited about this place, it is in a great location and they are looking forward to spending lots of time there on the weekends and taking their vacation at their new condo.

Francis'; wife has ideas about changes that she wants to make before they buy furniture and get it ready for their family to visit.
Most places need a thorough cleaning before you move in and this one is no exception.

But his wife wants to do a lot more than just clean. She wants new countertops in the kitchen along with a new backsplash and new appliances. She will put up with the cupboards, but would really prefer that they were also replaced.

There are two bathrooms which also need to be updated with granite countertops, new toilets, and mirrors and tile in the shower and of course the floors.

They have had several estimates for all of this work and it comes close to $60k in total renovation costs. These charges do not include repainting all of the walls and the major cleanup that is required in the other rooms.

Francis and his wife are negotiating with each other what work will be done and how much they will do themselves.

He wants to do all of the painting and the cleanup and delay renovation of one of the bathrooms to another year to manage their total costs.

She wants everything done now so they only have to deal with a mess once and clean once. Either way they are going to need a loan for somewhere between $40 and $60k to complete all of this work.

A $60000 loan with an twenty five-year term and 4.19% interest rate for Francis would cost him the following per month:

Loan Amount (principal) = $60000
Interest Rate = 4.19%
Term Length = 25 year
Monthly Payment = $323.03
Total Paid Back = $96909.14
Total Interest = $36909.14

Once they applied for a loan, they realized just how much these upgrades are really going to cost. In addition to the $60k of actual work, the loan will cost another $37k in interest charges even with a low interest rate.

They fortunately qualified for a low interest loan since they have a great credit score and were able to place a large down payment on the condo when they purchased it.

Sometimes it takes cold hard numbers to bring couples to the table to compromise on how much they want to spend on something like renovations.

Francis and his wife decided that they would schedule this work over several years instead of completing all of the work at the same time.

It means they will have to endure construction several times during their vacation time, but this scenario will be much more affordable for them.

They are going to apply for a new loan and then begin the highest priority work. While it will take several years to complete, they still get to spend time at their new place and enjoy the beach etc.

If you're living in Rutland like Francis, 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 Rutland VT

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

Education Upgrades: College / University

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Rutland Credit Counseling

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Counselors contact us for listing removal or info change.

GreenPath Debt Solutions
26 West St, Rutland, VT 05701
www.greenpath.com
802.773.2143

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Lon A Smith / Financial Advisor
(Edward Jones Associate)
82 Woodstock Ave, Rutland, VT 05701
www.edwardjones.com
802.773.5992

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Rutland Assistance Programs

Food Bank: Rutland Community Cupboard / Address: 65 River Street, Rutland, VT 05701 / Phone: 802.747.6119

Hot/Cold Meals: Open Door Mission / Address: 31 Park Street, Rutland, VT 05701 / Phone: 802.775.5661

Shelter In Case of Eviction: HPC (Homeless Prevention and Rapid Rehousing) / Address: Patch Place Building A, Box 7, 56 Howe Street, Rutland, VT 05701 / Phone: 802.775.9286

Social Assistance Programs: Rutland County Housing Coalition / Address: 46 Evelyn Street # 201, Rutland, VT 05701 / Phone: 802.775.9286

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Usury Law Governing Rutland VT

Summary of Vermont Usury Law(s) / Legal: 12% / Contract: Legal Rate / Judgment: 12% / Corporate: No limit (read more on Vermont lending laws)

Complaint process for Rutland residents:

Vermont Division of Banking / Vermont Complaint Process / Compaint form PDF for download

Physical Address: Vermont Department of Financial Regulation / Banking Division ATTN: Consumer Assistance / 89 Main Street, Montpelier, VT 05620-3101 / Phone: 888.568.4547 Fax: 802.828.1477 / Scanned complaint form may be emailed: DFR.BnkConsumer@vermont.gov

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