Do's And Don’ts For Home Loan In Killeen, TX 14. May 2016 Administrator Home Loans (0) Getting a loan for your dream home can be tricky because you need to be aware of all the procedures and documentation involved. Before applying for a home loan in Killeen, TX, be clear about your budget and the term period for which you want the loan. Below is a detailed list of various do’s and don’ts that you must follow:DO’S:Know what you can afford: Before submitting the application, you need to finalize the home that you want to buy. The value of your home will have a direct impact on your monthly loan payments. Evaluate all your expenses to determine the amount that you can easily pay towards the home loan every month. Make sure you choose a home that suits your budget.Conduct thorough research: You need to conduct proper research while choosing your loan. Check all the options and available loan plans from various financial institutions before making any decision. It is wise to choose a loan that allows you to prepay the amount at any point of time without levying any additional charge.Keep your EMIs unaltered: It is best to choose a loan which has unaltered EMIs as you will not have to worry about variation in interest rates during the tenure of the loan. If you are in a position to prepay the loan at any point of time during your loan period, request for a reduction in the number of your EMIs. Therefore, always settle on an EMI that you can comfortably pay without putting a burden on your pocket.DON’TS:Change jobs before closing the home loan: It is imperative not to change jobs till your home loan is closed. Make sure you talk to your mortgage provider before taking this step of changing your job and ask if it would have any effect on the terms and conditions of your loan.Ignore additional costs: Apart from the home loan and interest, you may also have to incur other charges such as brokerage fees, loan fees, stamp duty etc. Therefore, do not forget to keep a check on the additional costs while finalizing your budget for the home loan.Make a hasty or uniformed decision: It is best not to make a hasty decision while deciding the loan plan. Get a quote from at least three home loan providers in Killeen before choosing the one that suits you the best.We, at Greater Central Texas Federal Credit Union, offer low interest home loans in Killeen. For more information, you can call us at (254) 690 – 2274.
Credit Unions In Killeen: Membership Benefits 6. May 2016 Administrator Car Loan, Home Loans (0) Credit unions are non-profit organizations that provide low interest loans and work towards providing maximum benefits to the members. The high quality of services offered to the members is one of the major advantages that draw people towards credit unions in Killeen, TX. Listed below are some other membership benefits associated with a credit union:Low rates of interest: The home and auto loans offered at a credit union are quite affordable which helps the members in saving a lot of money. Also, credit unions generally put forward higher returns on savings and certificates. A credit union can provide better rates of interest because it gives all the profits directly back to the members. There are no stakeholders who need to be given a share in the profits. Apart from the low rates of interest, credit unions also offer low-rate credit cards to the members. This also adds up to a significant amount of savings.Equal rights: A credit union is basically member-based organization where every member shares an equal right to select the board of directors. The right to vote does not depend on the amount of money you have in your account. Superior quality of service: The staff at a credit union provides personal attention to each client and work towards achieving maximum client satisfaction. The service representatives are extremely well-informed and help the clients in resolving any issues associated with financial transactions.Well-developed online system and ATM network: A credit union offers various online services for the convenience of their members. You can obtain all the information pertaining to your account with just a click of the mouse. You can even make online bill payments easily. Apart from this, a broad network of ATMs located in thousands of locations across Killeen allows you to withdraw money whenever required.Community Service: There are a large number of credit unions that organize different kinds of activities to make the members aware about effective management of their finances. Therefore, they are extremely helpful as a community service organization.Be a member of Greater Central Texas Federal Credit Union to have access to low interest loans and various other financial services. For more information about the credit union in Killeen, TX, call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX 76542.
Credit Union Killeen - Apply Home Loan At Low Interest Rate 23. April 2016 Administrator Home Loans (0) A credit union is basically a financial cooperative that offers home loans on membership basis at very low interest rates. It is customer-centric and works towards providing benefits to the members. Moreover, there are no minimum balance requirements, very less charges and all the accounts are federally insured. Besides providing affordable financial services, a credit union has a number of benefits to offer as far as home loans are concerned. Low interest rates and minimal or no additional charges make credit unions a suitable option to get mortgage for your home. So, if you are also looking to apply for a home loan in Killeen, read on to know the advantages that you can enjoy as a member of a credit union:Customer satisfaction: A credit union is a non-profit organization which works solely for the contentment of its members and give out all the monetary benefits to their members. Therefore, in order to get a home loan from a credit union, all you need to do is become its member and fulfill the specified terms and conditions. Once you become a member of the credit union, you are entitled to get lifetime benefits.Get lower interest rates: If you apply for a home loan at a credit union, you will get the advantage of paying a lower rate of interest. This eventually means higher savings in the longer run. You can also compare the interest rates offered by various credit unions in Killeen and make a decision accordingly.Large network of branches: Most of the credit unions belong to larger networks and therefore have several branches as well as ATMs available for the convenience of their members. So, the clients can easily handle their financial transactions from multiple locations across the city. Lower fees: A credit union offers flexibility in terms of rates and fees charged for the home loan. The aim is to keep the fees as low as possible. You will be generally paid higher yields on savings and certificates. Do online transactions: You can pay your monthly home loan installments either through check or online. You can also obtain all the loan information online and make bill payments. This means you can handle your accounts conveniently from anywhere. Greater Central Texas Federal Credit Union is a leading credit union in Killeen, TX. We offer low interest home loans with minimal paperwork and easy repayment options. For details, you can call at (254) 690 – 2274.
Steps To Get Best Deal On A Car Loan In Killeen, TX 15. April 2016 Administrator Car Loan (0) Buying a new car requires a good auto loan deal to make the process smooth and quick. After finalizing the car that you want to buy, it is important to determine the amount of loan that you will require. Be clear about the down payment you will be able to make easily. Also, check out the interest rates being offered by various credit unions to settle for a loan plan that best suits your pocket. Below are some steps that can help you get the best deal on a car loan:Gather detailed information about your credit history: Get copies of your credit reports to know your eligibility for applying for a car loan. Keep this information handy as you may be required to present the document when applying for the loan. Every credit union has a different eligibility for a car loan, so it is better to inquire beforehand. The interest rates you will be offered will depend a lot on your credit score.Do your homework: It is imperative to shop around in order to look for the best deal on a car loan. Compare the interest rates offered by various credit unions in Killeen and opt for the one that complies with your budget. Do not forget to thoroughly read the terms and conditions of the loan plan you are considering. This will clarify all the rules and regulations of your car loan as well as avert any problems in the future.Choose a shorter loan term: Although a long term loan will reduce your monthly cost, it will significantly add up to the total interest payments. So, it is better to limit your auto loan to the shortest time period that you can afford as this will help you repay your loan faster. Compare the loan terms of various credit unions to make a wise decision.Concentrate on the total cost: It is important to focus not only on the monthly payments but on the total cost of the loan, including the interest payments. In order to cut down on your loan amount, you can consider paying a higher down payment towards your new car purchase.Ask for cash discounts: You can ask for cash discounts from your car loan dealer. These discounts can contribute towards the down payment for the car. It is better to go in for cash discounts rather than asking to lower your monthly EMI. We, at Greater Central Texas Federal Credit Union, offer affordable auto loans in Killeen, TX. We offer a wide range of loan plans with easy repayment options. For more information, you can call us at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX 76542.
Financing Your Car With Credit Union In Killeen 8. April 2016 Administrator Blog, Car Loan (0) If you are planning to purchase a new or used car, financing it must be on your mind. A credit union is one of the safest and easiest ways to procure a car loan. You can choose from a wide range of loan plans, depending upon your budget and financing requirements. Here are some benefits of first approaching your local credit union in Killeen, TX for an auto loan:Chances of approval are more: Credit union is open to listening to the back stories of its members and then deciding on the loan terms. If you are worried about little or no credit history, you may discuss your concerns with the staff and figure out the best way to get the desired loan amount.Convenience: The inter-personal approach of the credit union makes it convenient to apply for the loan even before you make the purchase. A pre-approved loan in your hand helps you to fix the budget for the car and spend prudently.Competitive interest rate: Credit union offers low interest rates which keep your monthly payouts on lower side. Since they know credit history of their members closely they are likely to keep their interests in mind before sanctioning the loan.Bundling: If you have an ongoing loan with the credit union , such as for your home, your interest rate may further be lowered, making it a better deal for you as they encourage bundling.Personal touch: A credit union is a non-profit organization that works for the community. You can get proper knowledge and education about all financing tools in a personal manner at a credit union. The staff takes the time to help clients understand the loan details in order to make a well-informed decision.Educated advice: Credit union has dedicated financial experts who are committed to provide information about financial products to the members. Their aim is to keep everyone informed of new policies and rates. This non-sales approach helps the members to build confidence.Provide stability: Credit union is operated by the members and for the members. They plough back all their profits back in to improving the services for members. This gives them stability and they are not likely to be affected by profit motives.Research all available options thoroughly before making up your mind. Compare interest rates and terms of loan by reading all documents carefully. We, at Greater Central Texas Federal Credit Union, offer affordable auto loans in Killeen, TX. For more information, you can call us at (254) 690 – 2274.
Tips When Buying A Luxury Car Loan In Killeen, TX 21. March 2016 Administrator Auto Loans (0) Owning a luxury car is a dream for many in Killeen, TX. However, buying an expensive vehicle is not within reach many a times and getting a loan is a convenient way to fulfill that dream. Getting a car loan is not difficult but you need to be sure that the loan amount can be repaid easily. Analyze your budget and calculate if you will have enough money for your expenses after paying for the monthly installment along with the interest rate.Below is a list of some tips that can be utilized when getting a luxury car loan in Killeen:Research: It is important to conduct a thorough research regarding the loan plans being offered by various credit unions. Browse through the internet and read the reviews to decide from which lender you want to get a loan. Compare the plans from at least three providers before making a decision.Interest rate: Interest rate is a crucial factor when applying for a car loan as it eventually decides the EMI that you need to pay every month. A minimal increase in the interest rate can cause a major jump in the monthly installments. Identify the best deal and it is better to opt for a floating rate of interest if you want a loan for a short period of time. On the other hand, go for a fixed rate of interest if you want to opt for a longer tenure loan.Processing fee: Every credit union has its own method of calculating the processing charges for a car loan. Some credit unions use fixed percentage of their loan as processing fee. On the other hand, many lenders also have flat rate processing fee. Decide on what suits your requirement and the amount you can easily afford to repay.Down payment: Down payment is the lump sum money that needs to be paid at the commencement of the loan term. Therefore, you need to have some amount of cash ready for down payment. Take note that lesser down payments will eventually increase your monthly EMIs. So, you need to decide according to the financial resources available to you.Loan term: It is best to avoid long term loans as this can lead to an increase the interest payments made during the loan tenure. On the other hand, a short term will help you in saving on the interest cost. Depending on your financial standing, you can decide on the car loan term.Prepayment charges: The lender can levy prepayment charges if the borrower is able to return the complete or partial loan amount before the end of the loan term. Therefore, you need to be aware if your credit union levies any such charges.We, at Greater Central Texas Federal Credit Union, offer affordable car loans in Killeen, TX. For more information, you can call at (254) 690 – 2274.
Document Checklist For A Secured Auto Loan In Killeen 14. March 2016 Administrator Auto Loans, Blog (0) When you need to apply for a secured auto loan, having the required documents at hand can help to get a faster approval for your application. It is important for the credit union to be sure that you will be able to repay the loan on time. This information will help to determine the interest rate that you may be charged on the loan amount. Given below are some documents that you may need to submit while applying for a secured auto loan in Killeen, TX: Income Proof: This is the most important document to be presented by the loan applicants. If you are a salaried individual, you may need to submit at least two of your recent pay stubs from the employer. For self-employed applicants, a copy of the tax returns of the last two financial years may be required. A bank account statement for the past 6 months may also be needed. If you have any source of sizeable income, such as rental properties, alimony, legal settlements etc. do provide the documents for validation.Identity Proof: You must submit a valid identity proof and a recent photograph along with the application for the secured auto loan. The ID proofs that may be accepted include social security card, birth certificate, passport, driver’s license etc. It is recommended that you confirm the identity proof required by your credit union beforehand to avoid any trouble later. Proof Of Residence: You may also need to submit proof of present and permanent address to apply for the loan. The document you provide should have an address consistent with that on your proof of identity as well as the loan application. Vehicle Information: If you are buying a new vehicle, you may need to give the vehicle identification number (VIN) to the lender. You may also be asked to submit he sales agreement from the dealer which may include the type, make, model, year and purchase price of the vehicle. For buying a used vehicle, get information about the original title, vehicle model and disclosure of no pending liens from the dealer. Proof Of Insurance: The credit union may also want to ensure that you have a valid insurance policy for your vehicle. The coverage options that you have chosen may also be considered while approving your loan application and deciding the interest rate. For affordable secured auto loans in Killeen, feel free to contact Greater Central Texas Federal Credit Union at (254) 690 – 2274.
Things First-Time Home Loan Borrowers Must Know 8. March 2016 Administrator Home Loans (0) Buying a home is one of the most important and biggest financial decisions that you may take in your lifetime. The process of taking a loan to buy a home may seem overwhelming, particularly for first time buyers. The paperwork, jargons and formalities may prove to be too mind-boggling if you are not prepared. Following factors will help to understand the constituents of a home loan and ease out the process if you are first time home loan borrower.Principal Amount: This is the amount that you are looking to borrow. This may not be the actual price of the home as some investment needs to be done by the buyer in the form of down payment and only the rest will be extended as loan. The amount you can afford as down payment must be carefully decided keeping your financial position in mind.Interest rates: There are two types of interest rates that you can opt from. Variable rate depends on the situation of the market and suits a borrower who can afford the volatility of the rate. Fixed rate remains the same for the entire tenure as agreed at the time of loan approval.Eligibility: It is important to review your credit history so you are aware how much loan amount you are eligible for. You can also get a co-applicant for a loan that has a steady income to improve your combined eligibility and up the amount you can take as loan.Time Period: After evaluating your current and future financial requirements, decide on the time period for which you will repay the loan amount. This may vary from 10 to 20 years and will affect your monthly payouts.Processing Fees: Ask the agent at the credit union if there is any processing fee for the loan you are applying for. In some cases, this fee is waived off for customers depending on schemes offered by the lender and in other a percentage of the loan amount is charged.Pre payment charges: Check if you will have to pay some extra charges in case you wish to pay your loan amount before the actual date. This may be a possibility if your financial condition improves and you are in a position to pay-off the loan. Check all papers: Once the application has been processed, read all documents carefully. Every minute detail must be clear to you so there are no disputes in the future. You must also save all correspondences for reference.We, at Greater Central Texas Federal Credit Union offer home loans at affordable interest rates. For more information, you can call at (254) 690 – 2274.
Applying For A Home Loan In Killeen, Texas 19. February 2016 Administrator Home Loans (0) Whenever you are planning to buy your dream home in Killeen, TX and applying for a mortgage, the most important thing that you need to focus on is your budget. You must know how much monthly installments you can afford to pay. In addition to the EMIs, some other costs are also included in the home buying process. This may comprise the closing costs, credit report fees, home appraisals, application fees, taxes, title transfer fees etc. Therefore, you need to take all factors into account before applying for a home loan.Below are some tips that can be utilized when you are going to submit a loan application at a credit union:Save money: The terms and conditions for getting a home loan approval keep on changing from time to time. Therefore, if you are planning to apply for a home loan, make sure you have enough cash reserve. You may need to pay the down payment right away once your loan is approved.Get pre-qualified: Knowing how much you can afford is a key step in getting pre-qualified for a loan. Your lender may ask questions pertaining to your monthly income, estimated down payment and the assets you own. Pre-qualification helps in determining your borrowing capacity but it does not guarantee an approval for your loan.Get pre-approved: In order to get pre-approved for a housing loan, you need to submit your recent bank statements, proof of income, and income tax return papers along with employment information. This will help your lender in cross-checking if you have sufficient funds to repay the loan amount. Compare housing loan rates: Compare the various housing loan rates being offered by different credit unions to select the most suitable plan. Most of the credit unions in Killeen offer flexible loan terms thereby making it easier for customers to get approval. Know your credit score: It is important to review your credit score before applying for a home loan. This is a critical factor in deciding your eligibility for a home loan. Also, it is imperative to pay all your bills on time, lower your debts and have a good credit report.We, at Greater Central Texas Federal Credit Union, offer affordable home loans in Killeen, TX. For more information, you can call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX 76542.
Reasons You Must Join A Credit Union In Killeen, TX 12. February 2016 Administrator Auto Loans, Home Loans (0) Credit Union is a not for profit institution that works collaboratively with its members to ease the financial liabilities of the clients. It lays emphasis on customer service and working for the benefits of the members. As the good word is spreading, more people are showing interest in joining credit union in the Killeen area as it offers various benefits.Focus on the community: A credit union aims at uplifting the financial understanding and positioning of its members. They plough back the finances they raise for the improvement of the objectives, thus making them a viable social organization.Easier loans and lower interest rates: Accessibility of loans at competitive interest rates is one of the biggest advantages of a credit union. The application process is much easier and the loans are approved in a shorter period of time. Lower banking fee: Their overdraft policies, minimum balance policies are competitive and designed keeping in mind the benefit of the members.Easy to join: It is easy to become a member of a credit union. Membership may be accepted depending on your area of residence, thus opening its gates to more and more members.Education: One can trust a credit union to offer the best advice when it comes to financial constraints and liabilities. They organize periodic seminars, panel discussions, lectures, and personalized financial counseling to make the members aware of latest financial tools available.Accessibility: Credit Unions are managed by representatives amongst the members and thus are more receptive to an individual’s concern. They are connected digitally, giving its members various windows to interact and exchange views, all round the day.More personal: You can strike personal relations with the staff as they are more forthcoming in attending to your queries than anywhere else. You can discuss your problems, raise queries and express opinions as these unions respond promptly to feedback.We, at Greater Central Texas Federal Credit Union offer complete financial services in Killeen, TX. We provide low interest home loans, checking accounts, savings account, payroll deduction, MasterCard, wire transfer and may other services to the clients. For more information, you can call at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX 76542.