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

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 tim GCTFCU Blog | Credit Union Killeen TX | Home Loans, Secured Auto Loan in Central Texas
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

What Possessions Can You Pledge For Secured Auto Loans?

17. May 2011 Administrator (0)

Secured auto loans like all the other secured loans necessitate the borrower to pledge an asset as security and assurance that the loan will be paid back. In certain cases you may be offered instant unsecured loans but if you look deep, they will prove to be more costly. The secured option implies the borrower offering the creditor with some form of collateral. If the borrower defaults on the repayments then the loaner can confiscate the pledged security and resell it with an intention to retrieve their money.

You will normally require a good credit rating to qualify and be consented for secured auto loans. These kinds of loans are helpful if you want to take up large amounts. Your asset can also be your house, so you must always treat repayments for your loan very important. If secured auto loans are acquired with any holding as an asset, then it is critical to keep up with the repayments. This asset option can appear like a huge commitment but it can ensure you bear the lowest rates of interest possible on your loan for an auto.

There is other stuff you can extend as assurance to the lender like any savings accounts, bonds, stocks, shares or any other valuables. Secured auto loans are a wonderful approach to utilize if you have any such collateral available and are sure you can comfortably make the repayments. By providing adequate security, the loaner is able to provide you with an excellent rate as you have instantaneously brought down your risk potential. Property does not have the same rate of depreciation as new autos, so the loaner has the best security they can perhaps ask for.

The particular assets that you pledge while applying for secured auto loans will provide the creditor a substantive guarantee that they can retrieve losses in the event of defaults.

To obtain cheap secured auto loans easily and quickly, consider Greater Central Texas Federal Credit Union only. We can be contacted at 254-690-2274.

Cheap Auto Loan | 72 Month Auto Financing

Things To Consider While Obtaining Used Car Loan

7. May 2011 Administrator (0)

Getting a good used car loan is not that hard. If you do proper research and locate the suitable lender, you can acquire a great loan without much hassle. It is also essential to find the right used car to buy. Below are a few things which are to be kept in mind while looking for an affordable used car loan:

To score a great used car loan, you should make sure that your credit report is as clean as possible. Pay all your bills on time and see to it that you do not take loan that you cannot afford to pay back. The better your credit is, the better the rate on your loan would be. It is also recommended to go for a good loan company. Make it a point to find a loaner who is reliable, well known and provides great customer support. Ask your friends and family for helpful advice and check out for any potential loaner with the Better Business Bureau. 

It is advisable to figure out how much you wish to spend when you apply for a used car loan. A used car loan is generally obtained by placing any collateral as security.  In general, the car loan procedure is quite simple and speedy. There are also a few things to be cautious about when you are looking at a used car. Watch out for the inflated prices. Find out the practical value of the used car before making your way to have a look at it; so you will know what the fair price is. Be watchful of the hidden mechanical troubles. Make sure that you get the used car scrutinized by a mechanic whom you trust prior to finalizing the deal. 

Thus, when you are looking for a used car loan, keep these tips in mind. If you are watchful and smart, then you will get a great used car as well as an outstanding deal on financing! Above all, in regards to the financing, be sure to shop around as the loaning market is highly competitive and you can save a bundle if you take out time to shop around for your used car loan.

If you wish to acquire a great used car loan, then you should by all odds reach Greater Central Texas Federal Credit Union. Contact us at 254-690-2274 to know more about our services.

Lowest Used Car Loan - Auto Loan in Killeen, Tx

72 Month Auto Financing: A Budget Saver

24. April 2011 Administrator (0)

A 72 month auto financing provides a large number of benefits that helps many borrowers in qualifying for a car they might not otherwise be able to afford.

It is well known that though a car is a major purchase, it will not last for a lifetime. Even those individuals who buy a brand new car will only retain it for approximately 7 to 10 years. Considering this fact, it makes sense that you aim to settle your car loan by choosing 72 month auto financing only. While most of the loaners provide a 5 year term on an auto loan, a 72 month auto financing may be a more suitable choice for you. 

The prominent benefit of a 72 month auto financing is that the monthly payments are cut down. This is because you are using up more time to pay for your car. Doing it in this manner permits you to perhaps purchase a more costly car since the payments will be a bit more reasonable. You can also go for 72 month auto financing when you simply require a car, but are not in a good financial position at the moment and presume to be a little better off later. You can decrease your payments in the meantime, and then as you progress, perhaps you would be able to pay off much faster. 

Another advantage of a 72 month auto financing is that you can refinance your loan after a couple of years. Since longer loans amplify the interest, you can refinance in a few years to lessen the time, and more significantly, lessen the APR interest rate. 

As it pertains to financing the purchase of your car, you should by all odds consider the benefits of a 72 month auto financing. Those individuals who take advantage of a 72 month auto financing will not be locked into a loan with repayments that they believed they could cope with. A lot of auto credit borrowers go with unrealistic repayment terms that are unmanageable after some time. With the 72 month auto financing, you will observe that your financing will not encroach on your enjoyment of your transport.

If you want to procure 72 month auto loan comfortably and quickly, go for Greater Central Texas Federal Credit Union only. We can be contacted at 254-690-2274.

72 Month Auto Financing - Cheap Auto Loan

Tips On Getting Cheap Auto Loan In Central Texas

16. April 2011 Administrator (0)

Logically each one of us requires a car these days. Since automobiles are such big ticket items, most of the purchasers go for some kind of financing so they can make small monthly payments. Determining an affordable car loan in Central Texas is a critical component of the buying procedure. 

Cheap car loans in Central Texas can be procured via secured and unsecured alternatives. Through the secured cheap car loans, the borrower can get an even lower interest rate since an asset of the borrower is required to be kept as collateral with the loaner. This asset renders a guarantee to the lender about the repayment of the loan amount. 

Through unsecured cheap car loans, the borrower doesn't have to place any collateral with the loaner. The loan is entirely collateral-free and he gets the money just on the basis of good faith that he will pay back the loan. Due to the lack of collateral, the interest rate is more or less higher than the secured auto loans. This rate can be taken down by adequate researching for a good loan lender of cheap car loans in Central Texas. But, this research is not required until Greater Central Texas Federal Credit Union is here. 

Do heedful legwork upfront:

Thankfully, there are lots of financial institutions that want to finance a vehicle for you. As a matter of fact, it is the purchaser's market, so you are free to pick out or refuse any offer you obtain. What you ought to do is to accumulate offers from various finance institutions and equate them with regard to interest rates, expenses and other terms.

Achieve and maintain a good credit rating:

If you have a good credit ranking, negotiating for a lower interest rate is not a big deal. For this you will need to figure out what kind credit rating you have and if it is not as good as it could be, you should utilize some months to boost it. 

To maximize your credit rating, be certain to pay your debts strictly on time.

To obtain cheap auto loans easily and quickly, consider Greater Central Texas Federal Credit Union only. We can be contacted at 254-690-2274.

Cheap Auto Loan - Auto Loan in Killeen, Tx

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.

r a home loan:

  • Ask for quotes from various credit unions: Different credit unions will offer you varied rates of interests on home loans. Make sure you ask for a quote to have an idea about your monthly repayment amount. Apart from the rate of interest, you should be able to know the limit up to which you can borrow. Compare quotes from different credit unions and finalize the one that offers the lowest rate of interest.
  • Fixed or adjustable rate loan: You can choose to get a home loan at a fixed rate of interest or an adjustable one. In case you select a fixed rate, the repayment amount remains constant throughout the loan term. On the other hand, the interest charged on adjustable-rate mortgage fluctuates over the time period of your loan. This eventually means your repayments will vary as well.
  • Choosing the loan term: You can get to choose a customized loan term from a credit union. Therefore, you can decide the amount of time it will take you to return the home loan. Depending on your income and expenditure, you can settle for a particular number of years within which you will be able to repay your loan. Though a longer duration can lower your monthly payments, it would eventually lead you to pay more interest.
  • Fees and charges: Check if you need to pay any fees or additional charges before getting a home loan approval. These may include ATM fees, loan fees, wire transfer fees etc.
We, at Greater Central Texas Federal Credit Union, offer hassle-free 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.

Home Loan: Checklist For Borrowers

19. November 2015 Administrator Home Loans (0)
More and more homebuyers are considering credit unions for their home loan needs. A credit union is more considerate towards the financial needs of its members. Thus, it offers loans at competitive interest rates and easy repayment options. The procedure is very simple, quick and requires least paper work.

Here is a checklist you need to consider before applying for a home loan.

Documents: You may be required to provide some legal and financial documents to apply for home loan through credit union. These documents include:

  • Sale Agreement: Before you apply for a home loan with your credit union, it is requisite to have the sale agreement or evidence of deposit. You will need to provide the registered title and location of the relevant property for the pre-approval procedure.
  • Salary Verification Letter: Whether you are a salaried person or self-employed, you need to provide your salary and income verification letter. You need to furnish pay stubs for at least a month’s period for the loan. You also need to attach the recent W-2 statements.
  • Tax Returns: To apply for the home loan, the credit union requires you to provide your completed tax returns including schedules and statements. You need to offer certificate of payment of taxes.
  • ID proof: You must add a copy of your date of birth certificates along with other ID proofs, as they are crucial for the verification of the identity.
  • Attach Credit Report: Your credit score is an important deciding factor, as it will determine the amount of loan that you can borrow from the credit union and the rate of interest that you will have to pay. Check your credit file before applying for the home loan.
Assess your ability to repay: Failure to pay the loan amount can lead to penalties and it will have adverse effect on your credit score. Make sure you have the ability and a steady source of income to ensure that you can repay the amount.

Choose the right loan period: Depending upon your budget, choose your loan period. If you choose a longer period, you may have to pay less every month, but the rate of interest may be higher, so decide the loan period accordingly.

Compare the prices: While applying for a home loan, you need to pay initial valuation and legal fee, which is included in APR, so compare the costs and fee to get the best deals.

We, at Greater Central Texas Federal Credit Union provide home loans at affordable interest rates. For more information, visit us at 3305 E. Elms Rd., Killeen, TX  76542 or call at (254) 690 – 2274. 

Low Income Auto Loan In Central Texas

14. November 2015 Administrator Auto Loans (0)
Having a low monthly income can make it challenging for you to secure an auto loan. You need a loan plan that suits your budget requirements. A number of credit unions in Central Texas provide auto loans and refinancing options to people in the lower income group. Do a thorough research and compare the interest rates offered by these institutions to choose the one suiting your requirements.

Here are the factors that you need to consider while applying for an auto loan in Central Texas:

  • Period of job: In order to get a quick approval for the loan, you must have spent at least one year in your present job. However, if you did not stick to a job for a year, a credit union may check for at least three years of uninterrupted employment. At the most, you should have changed only 2-3 employers within this period.
  • Down payment: If you are applying for a low income auto loan, you will be required to pay some form of down payment to the lender. In case you don’t have any money at your disposal, you may inquire from your lending organization about the alternatives they can offer.
  • Credit profile: If you have a higher credit score or a longer credit profile, you can get a better rate of interest for a low income car finance program.
  • Duration of the loan: You can get your loan approved at a faster pace if you choose to repay within a shorter period of time. However, loans with shorter durations usually entail higher monthly premiums.
  • Debt to income ratio (DTI): Most of the lenders prefer a maximum DTI ratio between 40 to 50 percent. To calculate your DTI ratio, add up all your bills and divide the total amount by your monthly pre-tax income.
  • Payment to income ratio (PTI): For approving a low income auto loan, most lenders prefer a PTI ratio between 15 and 20 percent. In order to compute the PTI ratio, divide your new car payment by your pre-tax income.
  • Co-signer: There are a few lenders who approve convenient interest rates for low income auto loans in case you get a co-signer and have a good credit rating.
We, at Greater Central Texas Federal Credit Union, offer low interest auto loans in Central Texas. For more information, you can call us at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX  76542.

Terms You Must Know Before Taking Home Loan

5. November 2015 Administrator Home Loans (0)
When applying for a home loan, there is a lot of paperwork and documentation that you need to undertake. There are a number of jargons that you need to be familiar with for a hassle-free loan process. Here is a list of some of the common terms that you may come across while taking a home loan in Killeen, TX:

  • Offer Letter/Sanction Letter: It is a formal confirmation letter given by the financial institution from where you are taking the loan. This letter states that you have been duly considered to be one of the loan applicants. However, this letter does not confirm the approval of a home loan. The loan will only be sanctioned after verifying all the documents and eligibility criteria of the applicant.
  • Equated Monthly Installments (EMI): EMI is the amount you repay to your lender every month. It includes the principal repayment along with the interest amount. Three basic factors are considered while deciding your EMI. These include the principal amount, loan duration and rate of interest. An amortization schedule shows how your EMIs have been formulated over the period of entire loan term.
  • Pre-EMI: If you buy a property that is still under construction, you will be given only a part of the loan amount. You are required to make the interest payments on this partial amount. These payments are known as pre-EMI. This eventually means you will have to keep on paying more interest to the financial institution till the time your builder takes to complete the construction of the property.
  • Credit Appraisal: The process of credit appraisal involves looking at various factors before finalizing the loan. The financial institution will consider parameters such as income, age, savings, qualifications, work experience etc. They will also check the number of loans you are presently servicing. Your eligibility for the loan will only be finalized after scrutinizing all these factors.
  • Margin: It is important to note that any lending organization will not sanction you the entire amount required for your home. You can get up to 90% of the cost and the rest you will have to put in from your side. This balance amount is called down payment or margin.
  • Post-Dated Checks (PDCs): PDCs are scheduled for future dates and cannot be processed till the mentioned date arrives. Generally, the lending organization will ask you to give them post-dated checks for one to two years. These checks need to be addressed to the credit union or home loan company. The exact amount of EMI to be paid should be mentioned on these checks.
To know more about the home loan process, feel free to contact Greater Central Texas Federal Credit Union at (254) 690 – 2274.

The Pros Of Secured Auto Loan

20. October 2015 Administrator Auto Loans