Home Loan

A home loan is the money consumers may use for the purchase or repair of a building (apartment, house, land, etc.) under a real estate pledge. Usually, the mortgage loan is granted for a long term up to 10 – 20 years, and the payments are repaid monthly in equal or decreasing installments. The monthly payment is consist of the loan amount, the interest, and the related commissions.

The available home loan amounts range from $5,000 – to $90,000.

The home loan helps you to buy your own home, initially paying only 30-35% of its real value. As a result, you immediately become the owner of a home, and you gradually pay the rest.

Home Loan Types

Depending on your financial abilities, Wayne County Federal Credit Union provides the following loans for purchasing or refinancing a new home:

• Jumbo loan – perfect for borrowers with good credit
• Conventional loan – a traditional secured loan good for refinancing
• Fixed-rate mortgage
• Adjustable-rate mortgage

Want to buy a home or refinance another home loan? Contact WCFCU for more information about these loan products.

Home Loan Solutions in Richmond: Partnering with WCFCU for Your Mortgage Needs

Buying a car is a big financial decision. Most people don’t have the cash to pay for a vehicle upfront, so they rely on auto loans. In the U.S., about 85% of new and 40% of used car purchases are financed through loans. The average auto loan interest rate is 6.58% for new cars and 11.17% for used cars as of early 2024.

Choosing the right lender is crucial if you’re looking for an auto loan in Richmond, Indiana. Wayne County Federal Credit Union (WCFCU) offers competitive rates, flexible terms, and personalized service. The maximum amount is $20.000. We will help you understand your financing options, how to apply, and how to secure the best deal on your next vehicle.

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