- Auto Loans
- Real Estate Loans
- Personal Loans
Central Coast Federal Credit Union offers competitive rates and terms on both new and used vehicles, including motorcycles. Vehicles will be considered new for current model, 3 year previous model year and in your possession less than 90 days. If the vehicle has been in your possession more than 90 days, financing is available up to 110% of value. These vehicles may be financed up to 84 months, plus sales tax, DMV registration fees and up to $3,500.00 for dealer extended warranty and Guaranteed Asset Protection coverage.
Used vehicle are considered to be 5th model year up to 10th model year. If the vehicle has been in your possession more than 90 days, financing is available up to 110% of value. These vehicles may be financed up to 84 months, plus sales tax, DMV registration fees, up to $3,500.00 for dealer extended warranty and Guaranteed Asset Protection coverage. Some borrowers may require a 10% down payment for new and used vehicles. Debt Protection coverage is available on all purchases / refinances.
The Credit Union will finance 100% of the dealer invoice for new motorcycles 750 cc’s or higher. Sales tax can be financed. New motorcycles are defined as one which has been in your possession less than 90 days and was never previously titled. We will only finance used motorcycles 750 cc’s or higher. The amount financed cannot exceed 80% of dealer invoice, not including tax and license. If not purchased from a dealership, we require a valuation of the motorcycle from a licensed dealership. Maximum terms on new motorcycles are up to 72 months and 60 months for used motorcycles on 750 cc’s or higher (based on qualifications). We will only finance motorcycles if titled in California. We also offer valuable yet affordable member payment protection on motorcycle loans.
REAL ESTATE LOANS
1st Deed of Trust Mortgages
Whether you are purchasing a new home or refinancing your existing home, our credit union has a variety of first deed of trust mortgage products designed to meet your every need. We offer fixed-rate mortgages with terms of 10 or 30 years. We can finance up to 80% of the appraised value of your property and the home must be located in the State of California.
Investment Credit Lines - Non Owner Occupied
Our investment credit line program is much like our home equity line of credit program- great rates and terms with no gimmicks and fast turn-around time on processing your application. You may borrow up to 70% of the appraised value of any property you own on a first lien or up to 70% on a second lien (less what you owe on the first lien). The property must be located in the State of California. The term of the loan is thirty years with a ten year draw period.
Home Equity Lines of Credit - Owner Occupied
Our Home Equity Line of Credit Loans have been our fastest growing Mortgage Product for one reason. Our rates and terms are about the best on the entire west coast! No gimmicks, no tricks- just low closing costs, low rates (no teaser rates here that shoot up after six months) and fast turn-around time on processing your application. You can borrow up to 80% of the appraised value of your home (less what you owe on your first deed of trust) to use any way you want. The term of the loan is thirty years, with a draw period of ten years. Be it for a new car, college tuition expenses, remodeling, a vacation… and the interest may be tax deductible. (As always, please consult a qualified advisor in tax matters).
Rental Property Loans - Non Owner Occupied
Have you ever thought of investing in some rental property? We can help with our residential rental property loan program, one to four family properties located within the State of California. For first deed of trust loans, you may borrow up to 70% of the appraised value of the property. For further details on our policies or to receive an application, please call our Loan Department at (831) 393-3480 extension 211 during regular business hours.
Mortgage Loan Officers - Seaside Branch
Maria Thomas – NMLS ID #809373
Elsa Leos – NMLS ID #1139894
Central Coast Federal Credit Union is registered with National Mortgage Lending System – NMLS ID #786119
Taxes are due! Your computer hard drive just failed! You need a vacation! But your budget says no… That’s what our Personal Loans are for. Your good credit and signature is all the collateral we require to get you the funds you need quickly. We grant Personal Loans for any provident purpose. The maximum loan amount is up to $10,000.00 (depending on qualifications); all personal loans are scheduled to be repaid within three years. We offer valuable yet affordable member payment protection on Personal Loans.
Debt Consolidation Loans
Debt Consolidation may be just the answer to rescue you from that never-ending stream of bills. Consider this…if you max out a $3000 credit card at 17% APR and make only the minimum payment it could take as long as 15 years to pay off that single debt and your total finance charges could be more than DOUBLE the original $3000 balance. With a debt consolidation loan from Central Coast FCU that same debt can be paid in full in as little as three years. We’ll combine all your personal debts into one loan scheduled to pay off in three years. Loans are available up to our policy limit of $20,000.00- the actual amount we will loan depends on your qualifications. We only ask that the credit lines we are paying off be closed and remain closed for the term of your loan. We also offer valuable yet affordable member payment protection on Debt Consolidation Loans.
Share and Certificate Secured Loans
Some members may wish to borrow against their own funds held in their credit union account to enjoy the benefits of even lower rates and more flexible terms. Members may borrow up to 100% of the available balance in their account for share secured loans and 90% of the available balance in their term share certificate for certificate secured loans. The maximum term on a share secured loan is ten years. On a certificate secured loan, the term is that of the certificate- however you may roll over the loan on a renewed certificate. For either loan type, the minimum monthly payment due is $50.00.