Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loan Tips: Credit Union Killeen, TX

6. October 2015 Administrator Home Loans (0)
Buying a house is a huge and one time investment for most people. Therefore, it is important to choose a home loan provider wisely so that this liability can be eased to some extent. With so many financing options available, it can be difficult to choose the right one. A credit union is a reliable option that can provide you the loan amount at affordable interest rates, the lowering your monthly repayment amount.

Read on to know about some tips for getting a home loan from a credit union.

  • Research thoroughly: It is suggested to carry out complete research before applying for a home loan. Compare the interest rates of various financial institutions so that you are able to find a plan with affordable interest rates, making it easier to repay the loan. Acquaint yourself with the jargons used in home loan agreements so you can understand the terms and conditions properly.  
  • Check your credit score: Your credit score is an important point of reference when it comes to getting a home loan approval. It helps to determine your consistency in repaying loans, paying taxes etc. The interest rate you are likely to be quoted depends a lot upon your credit score.
  • Decide the monthly installment: It is advisable to apply for a loan that fits your budget. Evaluate your monthly income from all sources and the necessary expenditures to determine the amount that you can spare towards your home loan repayment.  
  • Prepare documents: Make sure you have all the required documents at hand before applying for the home loan. The lender may ask for the closing disclosure from previous home sale (if applicable), alimony funds, relocation agreement and retirement statement etc. You should be prepared with all the documents beforehand in order to make the process hassle-free
  • Read the agreement: You must read each and every point mentioned in the home loan agreement thoroughly. The loan tenure, interest rates, EMI amount, due date for payment and other important details should be clearly mentioned therein. Clear all your doubts and if there is anything that you do not understand, make sure you ask the agent to avoid any confusion later on.
We, at Greater Central Texas Federal Credit Union, provide affordable home loans in Killeen, TX. We offer low interest rate, easy repayment options and flexible loan plans to suit the requirements of the clients. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.

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GCTFCU Blog | 72 Month Auto Financing: Pros And Cons
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

72 Month Auto Financing: Pros And Cons

7. September 2012 Administrator (0)

72 month auto loans come as a welcome option for those who wish to have low monthly installments, and wish to keep the same car for a long period of time. The duration of auto loans ranges from an average of 36 months to as long as 120 months. Even though, most of the Auto Loan companies only provide 60 month auto loans, you can avail a low EMI 72 month auto loan with financial institutions like Greater Central Texas Federal Credit Union. If you aren’t sure about what to expect from a 72-month auto loan, we have put together a list of pros and cons of such a loan, from a buyer’s perspective-

Pros-

  • The most obvious advantage of a long-term loan is the low monthly payments. If you have a steady, yet low monthly income, and would not like to spend 2-3 years on a meager income due to loan payments, this option might be the right one for you.
  • If you have a strong credit and income that shows well on papers, you might even get low interest rates on a 72-month auto loan, making it a win-win situation for you.
  • A 72-month auto loan is ideal when you badly want a dream car but cannot afford it just yet. The long period of repayment might be the price that you’ll have to pay, but it’s eventually worth it, especially considering that your financial condition might improve over the years.
  • Another scenario in which such a loan is favorable is when you are buying a vintage car, the value of which will not depreciate over the years.

Cons-

  • As the loan is of longer tenure the total interest paid in 72 months would be more in comparison to 2 years or 3 years auto loan.
  • It is important to check the terms and conditions of such long tenure loans as you might want to pre-pay the whole loan amount before 72 months.

To procure instant 72 Month Auto Loan in Central Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

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