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This page was last updated November 2018

Commentary for informational purposes only. See disclaimers here.

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Fair Credit Lenders in Seattle WA

Lenders: contact us for listing removal.

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Verity Credit Union
11027 Meridian Avenue N #102 Seattle
WA 98133 / www.veritycu.com
206.361.5346

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Qualstar Credit Union
1731 4th Avenue S, Seattle
WA 98134 / www.qualstarcu.com
800.848.0018

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Seattle Credit Union
722 3rd Avenue, Seattle
WA 98104 / www.seattlecu.com
206.398.5500

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Salal Credit Union
1320 Madison Street, Seattle
WA 98104 / www.salalcu.org
206.298.9394

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BECU Credit Union
1527 2nd Avenue, Seattle
WA 98101 / www.becu.org
800.233.2328

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Waterfront Federal Credit Union
2414 SW Andover St #E100, Seattle
WA 98106 / www.waterfrontfcu.com
206.622.8415

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Sound Credit Union
1109 Madison Street, Seattle
WA 98104 / soundcu.com
800.562.8130

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Express Credit Union
1930 6th Avenue S #104, Seattle
WA 98134 / expresscu.org
206.622.1850

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Community 1st Credit Union
10700 27th Avenue S, Tukwila
WA 98168 / myc1cu.com
206.367.7328

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First Tech Federal Credit Union
555 Terry Avenue N Seattle
WA 98109 / firsttechfed.com
855.855.8805

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Bad Credit Loans in Seattle WA

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

Learn about GAP (Gift Angel Program)

 

Seattle WA Lender Area Map

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Seattle WA Loan App Volume

Top 5 Seattle neighborhood loan app volume

  1. Highland Park
  2. Foster
  3. Gatewood
  4. Alki
  5. Holly Park

Seattle Washington's Space Needle: Licensing/Credit

Seattle Bad Credit Loan Example

Tony and his wife purchased their Seattle home over twenty years ago brand new from a developer. At the time it was state of the art and was decorated with the latest fashions and fads.

They did not opt for a lot of upgrades at the time preferring to control the cost of their home and keep their mortgage payments as small as possible.

They managed to pay of their mortgage last year, five years before the original contracted maturity. They saved a great deal of interest charges and they now have cash to spend on other things.

They plan to stay in their home and retire in about fifteen years. Now that they have paid off their mortgage, they feel that this is the time to spend some money on upgrades so they can enjoy their home even more during the years prior to retirement.

With their record of paying their mortgage early, they should have this new loan paid by the time they retire.

They need approximately $55k to complete all of the renovations and upgrades. They will consolidate all of their expenses into one loan and then repay it over the next twenty or so years.

They plan to redo the kitchen, the bathroom and replace all of the flooring and paint all of the walls. This is a large project and will take a year or so to complete.

A $55000 loan with an twenty-year term and 4.79% interest rate for Tony would cost him the following per month:

Loan Amount (principal) = $55000
Interest Rate = 4.79%
Term Length = 20 year
Monthly Payment = $356.63
Total Paid Back = $85590.15
Total Interest = $30590.15

Tony and his wife really have their act together. Not only are they debt free, they have a plan that takes them to retirement debt free in a home that has been kept up to date over the years.

By modernizing their home, they will also enhance the value of the home and make it more marketable should they ever plan to sell it.

They have no plans to sell their home at this time and want to stay at this location until they retire and perhaps live out their lives at this location.

Although they have applied for a personal consolidation loan, they might want to consider another mortgage which is secured by the equity they have in the home.

This will make them eligible for a more competitive interest rate. They may also want to consider a line of credit vs. a regular loan.

A line of credit would allow them to draw on the loan as needed and repay it as quickly as they want.

This sort of flexibility will also actually save them some of the interest costs as well and allow for future projects to be considered without needing to apply for another loan.

They appear to have lots of financial knowledge and discipline and would likely be great candidates for this type of consolidation loan.

Tony and his wife are reconsidering their loan application and trying to decide what approach they should take.

If you're living in Seattle like Tony and his better half, 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 Seattle WA

Job/Income Upgrades: Indeed / Monster

Education Upgrades: College / University

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Seattle Credit Counseling

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Counselors contact us for listing removal or info change.

Seattle Credit Repair
502 2nd Avenue Seattle
WA 98104 / creditglory.com
800.807.4388

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Better Credit Guaranteed
701 5th Avenue #4200, Seattle
WA 98104 / 800.216.2725
bettercreditguaranteed.com

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Credit Repair
1001 4th Avenue, Seattle
WA 98154 / 360.207.6694
creditrepair/seattle.net

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Seattle Assistance Programs

Food Bank: West Seattle Food Bank / Address: 3419 Southwet Morgan Street, Seattle, WA 98126 / Phone: 206.932.9023

Hot/Cold Meals: Ballard Food Bank / Address: 5130 Leary Avene Northwest, Seattle, WA 98107 / Phone: 206.789.7800

Shelter In Case of Eviction: Compass Housing Alliance / Address: 77 South Washington Street, Seattle, WA 98104 / Phone: 206.474.1000

Social Assistance Programs: Washington State Department of Social and Health Services / Address: 1700 East Cherry Street, Seattle, WA 98122 / Phone: 206.568.5500

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Usury Law Governing Seattle WA

Summary of Washington Usury Law(s) / Legal: 12% / Contract: 12% / Judgment: Washington judgment rate is as contract provides, otherwise the higher of 12% or 4% above coupon yield of 26-week Treasury bills / Corporate: No special rate (read more on Washington lending laws)

Complaint process for Seattle residents:

Washington Department of Financial Institutions / Washington Complaint Process / Compaint form

Mailing Address: PO Box 41200, Olympia WA 98504-1200 Physical Location: 150 Israel Road SW, Tumwater WA 98501 / Phone Numbers: 360.902.8700 Toll Free: 877.746-4334 TDD: 360.664.8126 En Español: 888.976.4422 Fax: 360.586.5068 Email: dfi@dfi.wa.gov

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WFL Loan Products

Seattle 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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