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Redstone Federal Credit Union provides loans to borrowers for homes, big purchases like RVs, and personal financial needs. It also offers mortgage assistance. As one of the 25 largest credit unions in the country, Redstone has a history and backing that can be trusted over less well-known institutions. Here, we will decide whether you should pursue a loan from Redstone if you have bad credit.
Quick facts about Redstone Federal Credit Union:
Loan Amounts Up to $150,000 Term Length Up to 84 months Loan Rates 2.49%-17.00% Min. Credit Score N/A Better Business Bureau Rating A+ Time to Funding N/A Our reviews for borrowers with bad credit use a variety of benchmarks when judging lenders. Below are a few of the items we look for to help you make a better lending decision. Applying can harm your credit score, as Redstone Federal Credit Union does not appear to have a soft credit pull for pre-qualification. There is no available disclosure regarding the range of debt to income ratios allowed. Borrowers with high debt amounts may be able to consolidate their debt through signature loans. Home equity credit lines are available, for up to 30 years at a fixed rate. You can also get overdraft protection loans for up to $5,000 if you are a qualifying member.Redstone Federal Credit Union Financial Terms In a Glimpse
Redstone Federal Credit Union Highlights
Pre-qualify with Soft Credit Pull
High Debt to Income Ratio
Allowed
Line of Credit
Credit Health Tools
When reviewing lenders, we also look at the tools they provide to help borrowers develop healthy financial and credit practices. Redstone provides:
- financial counseling services
- free yearly seminars on issues like retirement planning
- college planning information
- life advice
Hardship Programs
Little information is available regarding any hardship programs.
No Prepayment Penalty
Borrowers are not penalized for paying loans back earlier than the stated terms.
Unsecured Loans
You can get unsecured loans called signature loans, which do not have to be backed by collateral.
Typically, unsecured loans require the borrower to have higher credit ratings to protect the lender.
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