Fairwinds Credit Union Bad Credit Loan Review

Fairwinds Credit Union Financial Terms In a Glimpse

Fairwinds Credit Union Highlights

To be sure, those interested can read further about its features or they may call or visit the credit union itself for more information.

Pre-qualify with Soft Credit Pull

A pre-qualification process will be done to check the borrower’s ability to pay the loan. There will be a quick assessment of the credit history. 

High Debt to Income Ratio Allowed 

The credit union promotes financial freedom resulting in borrowers with high debts to be encouraged to apply. There is also a loan calculator provided on the website to determine the ratio. InCharge Debt Solutions might be of help.

Line of Credit

The lines of credit are flexible. There are express lines, small business lines, and commercial lines. Also, the home equity line of credit for home loans is included in the list.   

Credit Health Tools 

Credit card selections are presented to borrowers. A tool to increase a credit’s health can be utilized as well. Check out Fairwinds Money Management, made available on its website.

Hardship Programs

Lots of hardship programs are given for its members. In the case of financial difficulty (e.g., job loss, disability, divorce, death of wage earner), members can ask for financial aid. 

No prepayment penalty

Prepayment penalties are disregarded in applying for a loan; thus, borrowers do not have to worry about it. 

Unsecured Loans 

Borrowers in dire need of cash can ask for financial help. There are unsecured loans with a starting rate of 8.60% APR.

Fairwinds Credit Union Fees

Fees only apply to bank services. There are no lending fees stated on their website.

How to Qualify

Fairwinds is inclusive, therefore, members around the world are eligible to join. 

The Bottom Line

Fairwinds Credit Union doesn’t specify whether it accommodates bad credit borrowers or not. On the bright side, it offers low loan rates, starting as low as 1.98% APR.

Moreover, it doesn’t prerequisite a minimum credit score, essentially making it accessible to clients with bad credit.

This firm also provides a lot of benefits to its clients (e.g., lines of credit, hardship programs)

Other lending companies such as Upstart and Upgrade welcome clients of all kinds of backgrounds.

However, both companies do require a minimum credit score of 620 and 600 respectively. Despite that, they do have low starting rates, with APRs of 5.69% and 6.9%.