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

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.
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GCTFCU Blog | Do's And Don’ts For Home Loan In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

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.
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