Mr. Clipper was referred to Peninsula Credit Union by a local mortgage company in search of a préstamo con garantía hipotecaria. He met with Ylma at our Poulsbo branch, where they began reviewing his financial picture. Ylma explained that PCU offers home equity loan options up to 100% of a home’s value for qualifying members, which gave Mr. Clipper hope.
But there was a complication. Mr. Clipper had recently gone through a personal family issue and was carrying more debt than expected. His initial application was declined due to a high debt-to-income ratio. Instead of turning him away, Ylma looked deeper for a path forward. She discovered that the property had recently been refinanced and was jointly owned with his brother.
Ylma asked if his brother might be willing to co-sign. After a conversation, Mr. Clipper returned with good news—his brother had agreed! Ylma resubmitted the application, and this time, it was approved. The impact was significant: Mr. Clipper consolidated his debts, reducing his monthly payments from by nearly $1,000!
Thanks to Ylma’s persistence, care, and problem-solving mindset, Mr. Clipper gained not only financial relief but a renewed sense of stability. It’s the kind of second chance that makes all the difference.
