Frequently Asked Questions
Q: What do I need in order to be approved for an auto loan?
A: The first step is to complete an application. You'll also need a current pay stub to process the loan request. Please remember, the amount you wish to borrow is needed for an accurate pre-approval.
Q: We want to buy a new home fast. How quickly can you process our home loan?
A: On average, we can have your loan processed in less than three weeks.
Q: Why are new and used vehicle and recreational vehicle loan rates identical?
A: We're all about simplicity. By applying one rate to many loans, it becomes easier for you to compare your financing options and get the best deal.
Q: How much can I borrow?
A: Your loan amount is determined in part by the amount you request and debt to income ratio. We'll show you how much you should consider borrowing to maintain your wealth plan and budget.
Q: How do you determine my eligibility?
A: Your loan officer will review the loan application and make the decision based on your ability to make your monthly payments, your overall payment history, your collateral and more.
Q: How much will my monthly payment be?
A: Your monthly payment depends on the amount being lent, the annual percentage rate on that loan and the terms (number of months for repayment) of the loan. When we help you apply, we'll give you a rundown of the amount you could save each month by extending the terms. You can also use one of our loan calculators to get an overall picture of your loan payments.
Q: How long does it take to get an approval for an auto loan?
A: If you have an existing loan with us, we can often get it processed in a few hours. For new loans, we typically take 24 - 48 business hours after we receive your completed loan application and most recent pay stub. As you can expect, our loan department is very busy taking calls and helping other members with their loan needs. We will get to your application in the order it is received. And once we are processing yours, we may call with questions or, if applicable, to simply confirm your approval.
Q: Can my loan payment be deducted from my payroll?
A: An easier and more secure method is to direct deposit your pay to your KaiPerm account. Then your loan can be automatically paid each month from the account of your choice.
Q: How do I reduce my loan rate?
A: Open a Direct Advantage account and we'll reduce your loan rate by up to 2% APR (Annual Percentage Rate). More information about Direct Advantage can be found here.
Q: What kind of mortgage loans do you offer?
A: We offer both first and second 15- and 30-year mortgages. We also offer a variety of home equity loans and lines of credit. Your loan officer will help you decide which option is right for you and your needs. Looking to buy a home valued at more than $417,001? We offer jumbo loans, too.