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  • 1. Current Loan Rates Featured Content Public
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    https://www.connectioncu.org/rates/loans/

  • 2. My loan was turned down because of an error on my credit report. Can I fix this? Public
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    If there is an item on your credit report that you believe is in error, you should contact the credit reporting bureau directly (Equifax, TransUnion or Experian). Connection doesn't maintain your credit file and cannot make any changes to your report. Please refer to the related links for each of the 3 credit reporting bureaus that maintain information on your credit history.
  • 3. What is the difference between a personal loan and a line of credit? Public
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    A personal loan is an amount of money that you borrow for a specified length of time. You make fixed monthly payments, which reduce the amount of the loan until it is paid in full. A line of credit is an open-ended revolving credit line with a specified credit limit. It is similar to a credit card account except you use special personalized checks or drafts to access the funds rather than a plastic card. Your payment is based on the payment amount option you choose and the amount of the line you  More...
  • 4. What is the difference between a secured and an unsecured loan? Public
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    A secured loan is one where you have assigned Connection the right to take possession of one or more of your assets if you do not repay the loan within its term. These assets are specifically identified as part of the loan documentation and serve as collateral for Connection in the event that you default on your loan. If you default on a secured loan, Connection can take possession of the asset(s) and sell it to recoup any balance outstanding on the debt. Any amount recouped from the asset  More...
  • 5. What is the largest amount available for a personal unsecured loan? Public
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    The maximum amount available for a personal unsecured loan is $250,000. Please Contact Us today for more information on getting a loan from Connection.
  • 6. What credit agencies do you use to pull credit reports? Public
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    There are three credit reporting bureaus that Connection uses. They are: Equifax Experian Transunion You should be able to contact any or all of them to get a copy of your credit report. Links to their Web sites are provided below.
  • 7. How can I obtain a loan from Connection if I have bad credit or no established credit? Public
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    You may be able to establish a positive credit history by applying with a qualified co-borrower, such as your parents. If that is not an option, you may apply for a secured loan by using a CD/share certificate or savings account as collateral. To apply for a loan with Connection, please select Loan Application link below.
  • 8. Is there a charge for writing line of credit checks? Public
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    No, there is no charge for writing checks from your line of credit.
  • 9. What is the difference between a mortgage pre-qualification and a pre-approval? Public
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    A mortgage pre-qualification is a loan originator's opinion of the mortgage amount for which you qualify. This is typically done without any income or asset verification or credit check. A pre-approval goes a step further and provides you with a certificate and a letter stating that a mortgage underwriter has reviewed your income, asset documents and credit report. The pre-approval certificate is often helpful when you negotiate for your home purchase. Connection offers both a pre-qualificat  More...
  • 10. How long after closing will my home equity funds be available to me? Public
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    By law, Connection is required to provide a waiting period of three business days after closing before making the funds available. This waiting period is in the event you change your mind about taking the loan. Once this period has passed your loan will be activated. If it has been three business days since your loan closed and you have not received your funds, please Contact Us .
All information provided through this site is intended to be accurate. However, there may be inaccuracies from time to time which we will make every attempt to correct immediately. Information provided is intended to assist you in making decisions and does not eliminate the need to discuss your particular circumstances with a qualified professional.