$100,000 Debt Consolidation Loan in Cincinnati Ohio

This client is applying for a $100,000 debt consolidation loan and lives in Cincinnati Ohio. This client is an ideal client for most lenders. They have an excellent credit rating, they have no existing loans, they have a small balance on their credit cards and they would like to begin work on renovations on their home. They have started some work and charged this work to their credit cards.  They would like a line of credit for their debt consolidation loan secured against the equity in their home, which is almost paid for.

As far as jobs are concerned, they both work and have been at the same company for the past 10 years. Neither the wife nor the husband was laid off during the past 5 years and they expect to continue with the same company for the foreseeable future. All in all they are an excellent candidate for being approved for a competitive debt consolidation loan.

Debt consolidation loans that are lines of credit are very useful tools for many people who have a good record of managing their credit and debt levels. Consumers are able to draw on the line of credit as needed and also make payments as funds become available. Interest rates can be very competitive especially when they are secured by the equity in a person’s home.  Lines of credit can also be used to consolidate debt such as personal loans, credit card debt and even small mortgages. Clients can save a great deal of interest in this manner compared to the interest consumers pay on credit cards and even unsecured personal loans.

We anticipate that this client will be approved for a debt consolidation loan with no problem, once all information is provided to the lender.
Debt Consolidation Loan Amount :: $100,000

Home Loan Application and Processing Speed (when do you need the funds):: within the next month

Do you currently have a mortgage? :: yes, a small balance is left

Bank Name and Branch ::PNC Bank East 5th Street

What City/Town, State and County do you live in? ::  Cincinnati, Ohio

Zip :: 45202

What is your employment field? :: Electronics Manufacturing

Employment Position :: Foreman

When are you paid? (monthly/weekly/biweekly):: Biweekly

Your credit rating to be – excellent, fair, or bad? :: Excellent

How did you find us? :: searching for consolidation loans using google

How are you paid? (direct deposit/paper check):: direct deposit

Gross Amount Per Paycheck :: $2400

Do you agree to have this information published online, without your PRIVATE information of course? :: sure, as long as nothing personal is released

Extra information here please (some detail):: We are very fortunate. We purchased a home after the housing prices dropped so our mortgage was very low, which we have now almost paid off. Our home has started to increase in value as the economy is slowly getting better and we have both held jobs throughout the entire economic down turn. We are truly fortunate from an economic perspective.

We have decided that we would like to upgrade a number of things in our house. It is about 30 years old and needs some improvements as well updating to current standards.  We plan to change the kitchen all around, make it larger and add granite counter tops. We also want to upgrade the bathrooms and replace the carpet. Our roof, our furnace and water heater is all 30 years old and our roof especially needs to be replaced. We have already started some of the work, charging the expenses to our credit cards.

We realize that leaving a balance on the credit cards is not a very smart thing to do with the very high interest rates. We would like to consolidate our credit cards and our existing mortgage into one low interest mortgage that we can draw upon as needed. All of this work cannot be completed at the same time, so we plan to schedule it over the next year. We believe that if we can be approved for a debt consolidation loan that works like a line of credit, this would be the best option for us.

Note to Lender :: Regarding our jobs, both my wife and I work. I have been at the same company for the past 10 years and I was promoted to foreman, just a year ago. Our company has done very well over the past five years and did not need to lay anyone off. We are one of the few companies that have weathered this economic down turn very well.

My wife works as a dental assistant and has also bee working the entire time. Dentistry appears to be a great profession to work in. We have no loans at the present time, other than a small mortgage on the house. Our credit rating is excellent as far as we know and we have secure jobs. We are hoping to be approved for a line of credit with a very competitive interest rate, based on placing our home as security.

Please review this application and let us know if any additional information is needed.