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Tennessee Lenders > Knoxville

This page was last updated August 2019

Commentary for informational purposes only. See disclaimers here.

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Fair Credit Lenders in Knoxville TN

Lenders: contact us for listing removal.

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Knoxville TVA Employees Credit Union
1316 Wilson Rd, Knoxville, TN 37912
www.tvacreditunion.com
865.544.5400

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ORNL Federal Credit Union
3634 E Magnolia Ave, Knoxville, TN 37914
www.ornlfcu.com
865.688.9555

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The Tennessee Credit Union
10431 Kingston Pike, Knoxville, TN 37922
www.ttcu.org
865.693.9500

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UT Federal Credit Union
707 E Emory Rd, Knoxville, TN 37938
www.utfcu.org
865.971.1971

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Enrichment Federal Credit Union
5201 Schubert Rd, Knoxville, TN 37912
www.enrichmentfcu.org
865.688.0866

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Citizens Savings & Loan
8078 Kingston Pike # 159, Knoxville, TN 37919
www.citizensloan.com
865.693.4199

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Covington Credit
1204 E Magnolia Ave, Knoxville, TN 37917
www.mymoneytogo.com
865.525.8248

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Service Loan South
4206 N Broadway # A, Knoxville, TN 37917
serviceloansouth.com
865.525.9300

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Health Systems Credit Union
900 E Oak Hill Ave, Knoxville, TN 37917
www.healthsystemscu.com
865.689.6152

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Knox County Credit Union
1000 N Central St, Knoxville, TN 37917
www.knoxcounty.org
865.215.5690

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Bad Credit Loans in Knoxville TN

Fast Loan Pre-App Method
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Knoxville TN Lender Area Map

Knoxville Bad Credit Lenders Map - Initial Static Image

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Knoxville TN Loan App Volume

Top 5 Knoxville neighborhood loan app volume

  1. Halls Crossroads
  2. Inskip
  3. Sequoyah Hills
  4. Edgewood
  5. Fountain City

Tower Park Knoxville Tennessee: Licensing/Credit

Knoxville Bad Credit Loan Example

Shawn is in the business of buying up Knoxville homes that need to be fixed up. He is able to offer sellers a price that allows him to buy the home, fix it up and still make money.

The sellers have let their homes deteriorate and have a difficult time selling. Often these homes need a new roof, windows and sometimes even foundation repairs.

They all need major updating inside to bring them up to todays modern requirements. When Shawn is finished with a home, he can sell it for top dollar and move in ready which is what many consumers are looking for.

He just purchased a home in Syracuse and needs to spend roughly $100000 on it to bring it up to a level that will make it attractive on the market in the high end home area.

This particular home needs a great deal of work. The previous owner has not spent any maintenance on the home in the last fifteen years and it also needs major updating.

He is replacing the roof, the windows and repainting the exterior. There will also be minor landscaping completed along with a new driveway.

Inside the home he is replacing all of the floors, updating the bathrooms and the laundry room. There will be a new furnace and he will add AC which the home never had.

He is going to totally redo the kitchen. There will be new cupboards, new countertops and of course new top of the line appliances.

The floor will be ceramic and there will also be an island for entertaining and cooking of course.

All of this work is estimated to cost in the neighborhood of $100000 which he expects to recover once he sells the home.

He purchased the home well below market price and should easily make a profit after everything is completed.

A $100000 consolidation loan with a ten-year term and 6% interest rate for Shawn would cost him the following per month:

• Loan Amount (principal) = $100000
• Interest Rate = 6%
• Term Length = 10 year
• Monthly Payment = $1110.21
• Total Paid Back = $133224.60
• Total Interest = $33224.60

Although Shawn does not need a ten year amortized loan, the payments were calculated using this term to create manageable payments while the home is under renovation.

He expects to hold the home for less than six months. There definitely is a seller’s market at the present time and homes that are priced to market, move in ready with modernized décor are moving quickly.

It took Shawn and his team approximately 4 and half months to complete all of the renovation work. He listed it for sale and managed to sell the home within a month of the listing date for more than he was asking.

This was one of the best deals he has done in the past year.
Shawn repaid the lender in total and is ready to move on to his next project. The lender is quite interested in the next deal and working with Shawn as well.

If you're living in Knoxville like Shawn, 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 Knoxville TN

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

Education Upgrades: College / University

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Knoxville Credit Counseling

Knoxville Credit Counselors Map - Initial Static Image

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Counselors contact us for listing removal or info change.

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America Credit
Knoxville, TN 37918
865.548.8060

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Credit Ability
Knoxville, TN 37901
www.credability.org
865.584.5222

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Knoxville Non-Profit Services

Food Bank: Fish Hospitality Pantry / Address: 122 West Scott Avenue, Knoxville, TN 37917 / Phone: 865.971.4000

Hot/Cold Meals: Hospitality Pantries / Address: 600 South Chestnut Street, Knoxville, TN 37914 / Phone: 865.522.3474

Shelter In Case of Eviction: Knox Area Rescue Ministries / Address: 418 North Broadway, Knoxville, TN 37917 / Phone: 865.673.6540

Social Assistance Programs: Knoxville - Knox County CAC / Address: 2247 Western Avenue, Knoxville, TN 37921 / Phone: 865.546.3500

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Usury Law Governing Knoxville TN

Summary of Tennessee Usury Law(s) / Legal: 10% / Contract: 4% over average weekly prime rate / Judgment: 10% / Corporate: Rate not specific (read more on Tennessee lending laws)

Complaint process for Knoxville residents:

Tennessee Department of Financial Institutions / Tennessee Complaint Process / Tennessee Complaint Form (PDF)

Mailing Address: Tennessee Department of Financial Institutions - Consumer Resources Section / Tennessee Tower, 26th Floor, 312 Rosa L. Parks Avenue, Memphis, TN 37243-1102 / Phone: 800.778.4215 Fax: 615.253-7794 Email: tdfi.consumerresources@tn.gov

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WFL Loan Products

Knoxville 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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