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

Obtain The Lowest Used Car Loan Rate And Save

5. April 2011 Administrator (0)

For masses who are interested in buying a car, a used hand car can, in most of the cases provides an optimum value for money. Considering that the new cars depreciate in value so quickly, most people are recognizing that the savings they can make if they go with the option of buying a used vehicle. For everybody who is searching for the best value for money when purchasing a motor vehicle, there are chances that one will desire to get his/her finance at the minimal possible interest rate. Acquiring the lowest used car loan rate is not hard these days in Texas. 

Before you start your search for the best rate for used car, it is the perfect idea that you possess some information about the rate of interest prevalent in Texas at that time. These rates will waver and will also impact the lowest used car loan rate that the loan companies and institutions can provide. 

It is also crucial for you to keep in mind that the minimum used car loan rate that you would be able to procure will depend, to a certain degree, on the cities in which you reside. Auto loan interest rates are not consistent across Texas and lenders in some cities like Killeen will of course be ready to provide lower priced loans than in other places. 

Your power to find out the lowest used car loan rate will also depend upon your financial position and credit ranking. Those individuals with a good credit rating will have the ability to obtain the lowest used car loan rate as loan companies will reckon them as less of a risk. In case you have a poor credit rating it is vital that you only compare the loan rate with people (with poor credit) as this will present you with a better idea of corresponding interest rates and assist you in finding the lowest loan rate for your particular situation. 

If acquiring the lowest used car loan rate is essential to you then you should by all odds reach Greater Central Texas Federal Credit Union. You will be surprised to hear about our interest rates which are for sure quite low as compared to the others. So, by coming to us, you can save quite a lot of your hard earned money. Call us today at Phone: 254-690-2274. We are situated in Killeen, Texas.

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GCTFCU Blog | Fixed Vs. Floating Interest Rate: Home Loans In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Fixed Vs. Floating Interest Rate: Home Loans In Killeen, TX

7. January 2016 Administrator Home Loans (0)
Getting a home loan from a credit union in Killeen, TX is not a very tedious job as there is minimum paperwork involved. However, you need to choose whether you want to opt for a fixed or floating rate of interest. Both the options have their own advantages as well as disadvantages and it is up to you to decide which one is better.

Fixed rate of interest home loans

A fixed rate of interest implies repayment of loan in fixed equal installments during the loan term. In this case, the rate of interest remains constant and does not change with the market fluctuations.

Advantages:

  • No alterations in the rate of interest irrespective of market conditions.
  • Perfect option for people who have fixed budgets.
  • It is a secure alternative.
Disadvantages:

  • Loans are 1 to 2.5% higher than floating interest rate depending on the bank.
  • If the interest rate decreases in the market, you will not get any advantage.
  • In some instances the fixed rate home loan is fixed only for a few years and not the complete loan tenure.
Floating rate of interest home loans

If you apply for a home loan with a floating rate of interest, it simply means that the interest rate will differ as per the market conditions. In this instance, the interest rates are associated with a base rate and a floating element. Therefore, if there is any alteration in the base rate, the interest rate also fluctuates.

Advantages:

  • Cheaper than fixed interest rate home loans.
  • If the floating rate increases than fixed rate, it is temporary and not for entire loan period.
  • Can prove to be beneficial if you want to save money.
Disadvantages:

  • Monthly installments are not constant.
  • You can face difficulty in planning your budget.
  • There has been a hike in floating interest rates in recent times.

It can be concluded that fixed as well as floating interest rate home loans in Killeen have positive as well as negative aspects. Generally, borrowers opt for a floating rate of interest when applying for a home loan from a credit union. However, if you want more security and certainty, it is better to opt for a fixed rate home loan.

If you are looking for affordable home loans in Killeen, TX, consider Greater Central Texas Federal Credit Union. For more information, call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX  76542.
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GCTFCU Blog | Affordable Home Loans In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Affordable Home Loans In Killeen, TX

13. August 2015 Administrator Home Loans (0)
With the ever-increasing property prices and soaring interest rates, it is important to choose the right home loan to avoid any financial issues in the long run. Keeping this in mind, a lot of home buyers prefer a credit union over bank for their financing needs. This is mainly because of the considerably low interest rates and better customer service offered by them. Additionally, the process of applying for a home loan at a credit union is much simpler, with minimal documentation and paperwork.

Given here are some of the benefits of choosing a credit union for a home loan:

  • Low Interest Rates: Being a non-profit organization, a credit union is not liable to pay any taxes to the state or federal government. This, in turn, allows them to offer low interest rates on their home loan products. Thus, you will have to pay lower monthly installments and be able to save more.
  • Account Holders Have A Say: As members of a credit union are its part owners, they have a say in the important matters of the credit union. This may be concerned with the working of the credit union, interest rate of loans or other services offered to the members.
  • Less Income Requirements: A credit union usually does not have a strict income criterion for an applicant to be eligible for home loan. Thus, people who have not been approved for home loan by a bank due to low income are quite likely to get approval at a credit union.
  • Fewer Processing Fees: The loan processing fees charged by a credit union are usually affordable and lesser than many other financial institutions. In addition, it also offers several other membership services such as online banking, checks, wire transfer etc. at a nominal cost.  
  • Speedier Closings: When you apply for a home loan at a credit union, you can expect an instant approval for the same.
  • Flexibility: Working solely for the benefit of the members, a credit union is not much stringent when it comes to their loan conditions and policies. They offer considerable flexibility in terms of loan products and repayment options.
We, at Greater Central Texas Federal Credit Union, provide affordable home loans in Killeen, TX. 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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