If you’ve never banked at a Lebanon credit union before or you’re a new member, you may not realize what services are available here. Central Willamette Credit Union’s Lebanon branch offers the same services as a full-service financial institution. That means you have excellent loan options combined with the benefits that you can typically find only through a credit union. If you’re in the market for a new loan, our Lebanon credit union is the perfect place to apply for one. Here are five loan options we provide.
Auto Loan
Looking for a new set of wheels? If so, Central Willamette offers auto loans at incredibly competitive rates. In fact, when you finance with us, we’ll cover 100% of the cash sale price or 120% of the MSRP at a fixed rate for up to 84 months. Unsure if you want to take out an 84-month loan? At Central Willamette, you don’t have to worry about an early payoff penalty. This gives you the flexibility to opt for a longer-term loan, while still being able to pay it off according to your own repayment schedule.
If you currently have an auto loan with another lender, you can choose to refinance your loan with Central Willamette. We offer competitive rates on refinances that could save you money and lower your monthly loan payment. Our auto loan rates start as low as 3.69%.
Our auto loan calculator is a great resource to help get you started. You can use the calculator to determine how much you can afford to spend on your new car purchase and what loan term suits your needs best. When you’re ready to apply for your auto loan, you can do so online, in-person at your local branch, or by simply reaching out to us by phone.
Home Mortgage
Just as with our auto loans, Central Willamette Credit Union also offers highly competitive rates on home mortgages. Buying a home can sometimes be a stressful experience, so Central Willamette does everything in its power to streamline the process. We’ve partnered with myCUmortgage to walk you through all the steps you’re likely to encounter along the way. Even if you’re a first-time homebuyer, you’ll know what to expect at each point in the homebuying process.
If you haven’t found a home yet, you can still get a head start on your purchase by obtaining a pre-approval. Crunch the numbers on our mortgage payment calculator to see how much you can afford for a home. In addition to our calculators, we provide a variety of resources that will help prepare you for buying a new home.
Refinancing your mortgage is another option we offer our members. Use our mortgage refinance calculator to see how much money you could be saving.
Home Equity Line of Credit
Perhaps you already own a home but you want to use it as collateral for a new loan or a second mortgage. We offer that loan option as well. With our home equity line of credit (HELOC for short), you can borrow up to 80% of the equity in your home. With this type of loan, we offer both fixed and variable interest rates.
HELOCs are different from traditional loans in that they function similarly to credit cards. When you have a HELOC, you can borrow up to the full amount of your credit line, pay it back, and then re-borrow against the line of credit again. You can do this several times over the course of the loan’s draw period, giving you a consistent cash flow during that time period.
You’re also only required to pay the interest back during this time, making this loan a good option for people who want to keep their payments low during the initial borrowing phase. Use our HELOC calculator to determine how much you could potentially borrow.
Personal Loan
What happens if you don’t have a home or other collateral to borrow against? That’s okay too. Central Willamette offers unsecured personal loans that are supported by your creditworthiness rather than any assets. This makes a loan possible for virtually everyone.
Though interest rates for personal loans are typically higher because of the risk involved, the interest rates on these loans are still more competitive than most credit cards. With a personal loan, you can borrow up to $25,000 at a fixed interest rate. There’s no application fee, and you have 60 months to pay back the loan amount. We also offer a personal line of credit that functions similarly to our HELOCs.
Business Loan
Are you trying to get a business off on the right foot, or do you want to expand an already established one? If so, our business loan may be an excellent option for you. We offer many types of business loans that vary depending upon your particular needs.
For instance, we offer SBA and USDA loans designed to assist with the growth of your business. If you’re looking to purchase a commercial property to get your business up and running, Central Willamette also provides commercial real estate loans with payment schedules that run as long as 30 years.
Furthermore, we offer secured term loans, as well as flexible operating lines of credit with unsecured limits up to $50,000 and secured limits above $50,000. Whatever your needs, we have the right loan to help you realize your full business potential.
This is a great overview of the loans we have to offer, but we offer other types of loans you maybe haven’t even considered, such as recreational vehicle and boat loans. Whatever your dream, needs, or goals, your local Lebanon credit union has the perfect solution for you. Stop by our Lebanon branch and speak with one of our loan specialists. Money may not grow on trees, but at Central Willamette, we strive to make borrowing just as easy.