LOANS
Defense
Contracts South Federal Credit Union offers several types of loans at very
competitive rates. Interest rates
vary depending on the type of loan and length of time financed.
When comparing DCSFCU to other lending institutions, you will find that
the Credit Union offers
 |
lower interest rates, |
|
excellent terms, |
|
no-cost loan protection insurance and |
|
DCSFCU does not penalize for early payoff as some other institutions do. |
LOAN TYPES
| New Cars, Boats, Motor Homes, Travel Trailers, Motorcycles |
|
Used Cars, Boats, Motor Homes, Travel Trailers, Motorcycles |
|
Signature Loans |
|
Share Secured Loans |
New Cars, Boats, Motor
Homes, Travel Trailers
|
Up to
6 years depending on value of vehicle and rate desired |
|
New
cars financed at another institution can be refinanced (within 120 days of
original purchase) to take advantage of a lower rate |
Used Cars, Boats, Motor Homes, Travel Trailers
|
Up to 6 years depending on value, age of vehicle, and rate desired |
|
No age limit on cars as long as value can be established |
| Loans can be financed up to 10 years for vehicles over $25,000 |
Share Secured
Loan
|
12
year maximum |
|
Loan
full share dollars |
|
Variable at 1.25% above highest dividend |
Signature Loan
|
Up to 4
years depending on rate desired |
|
Maximum
loan of $7500.00 |
|
Preferred
rates available with special qualifications |
Signature loans in excess of $2500.00 require additional requirements:
|
Credit
must be excellent |
|
Contractual
debt must not exceed 40% of
monthly gross verifiable income |
|
Amount
of loan cannot exceed 15% of annual gross verifiable income |
|
A
new loan application for open-end and/or line
of credit form must be completed each time the loan balance remains
above $2,500.00.
|