Loans
How Does My Credit Score Affect Getting a Loan?
Your credit score plays a crucial role when applying for a loan. Whether you’re looking to buy a house, finance a car, or get a personal loan, lenders, including California Community Credit Union (CACCU), use your credit score to evaluate your financial health and determine the terms of your loan. Understanding how your credit score…
Read MorePros & Cons of Refinancing Your Mortgage
Refinancing your mortgage can be a strategic financial move, but like any decision, it comes with its own set of advantages and disadvantages. If you’re a homeowner considering refinancing, it’s important to understand both the benefits and potential drawbacks before making a commitment. California Community Credit Union (CACCU) is here to guide you through the…
Read MoreHow do home equity loans work?
Understanding Home Equity Loans: How They Work and What You Need to Know Home equity loans are a popular financing option for homeowners looking to leverage the equity they’ve built up in their property. Whether you are planning a major renovation, consolidating debt, or making a significant purchase, a home equity loan can provide you…
Read MoreAuto Loans Made Easy: Financial Tips for Car Buyers
Whether it is commuting to work, running errands, or taking road trips, owning a car is not just a luxury but a necessity. Purchasing a car is a substantial financial commitment and navigating auto loans is a crucial part of the process. Here are a few financial tips to help car buyers secure an auto…
Read MoreKey Loan Terms: Deciphering the Language of Borrowing
If you are taking out a personal loan or a mortgage, understanding the key loan terms is crucial to making informed financial decisions. These terms can often seem confusing and overwhelming, but gaining a clear understanding of them is essential to ensure you get the right loan and avoid potential pitfalls. In this article, we…
Read MoreWhat are the different kinds of loans you can get?
Exploring the Array of Loans: A Comprehensive Guide to Different Loan Types Loans have become an integral part of modern financial systems, offering individuals and businesses the means to achieve their goals, manage expenses, and seize opportunities that might otherwise remain out of reach. In this comprehensive guide, we will delve into the diverse world…
Read MoreHow Does a Home Equity Loan Work?
Are you planning to take out a home equity loan soon? If you are, you’re not alone. Approximately 20 percent of homeowners every year borrow against the equity of their home for a variety of reasons. It might be used for a home improvement project, to pay for their child’s college tuition, or even to…
Read MoreCan You Pay Off a Personal Loan Early?
Personal loans are a popular financial tool that enables people like you to borrow money for a variety of purposes such as paying for a home remodel, consolidating debt, covering medical expenses, and paying for your child’s college tuition. Typically, you pay off a personal loan in accordance with a predetermined repayment period. You may…
Read MoreHow Do Personal Loans Affect Your Credit Score?
Perhaps you’re planning for a home renovation this summer. You might be financially strapped with huge medical bills. Maybe you’re trying to see how the numbers add up as you figure out how you’re going to pay for your daughter’s private college tuition in the fall.  This is where a personal loan can come…
Read MoreWhat is a Personal Loan, and How Do They Work?
If you’re thinking of taking out a personal loan, you’re not alone. More than 22 million Americans had taken out personal loans as of late 2022, with an average balance owed of approximately $11,000. In fact, as of early 2021, at least 131 million Americans – or 51 percent of Americans – said they had…
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