Loan Services FAQ
Click a subject below, if you can't find the answer to your question please feel free to contact us.
General Questions
Do I need to be a Coast Central member to apply for a loan?
You are welcome to apply even if you haven’t established membership with us. However, if approved for the loan, you will need to open a Membership Savings account with at least $50. See our requirements on our Join Us page.
See “How can I apply for a loan” below to access online printable loan applications to complete and bring to any Member Services Branch.
How can I apply for a loan?
There are several ways to apply for a Coast Central loan – the easiest of which is right here on our website. Under any loan category (Autos, Real Estate, etc.), there will be a section at the bottom of the page to “Apply Now.” Select the online application there, or choose to complete and print a copy that you can bring in to any member services branch, fax, or mail.
You may also call our Member Loan Services department at (707) 445-8801 ext. 365.
The quickest way to receive a decision is usually to visit us in person, but we are usually able to respond to online applications within one business day.
What can I do if I’m getting behind on my payments?
We’re here to help. Be sure to notify our Collections Department at (707) 445-8801, ext. 260 if you’re having trouble. Depending on your circumstances, we may be able to offer you a loan extension. Good communication is key to helping you avoid repossession or foreclosure and get back on track with your loan payments.
How do I get my end-of-year interest/tax information?
If you paid more $600 or more in interest during the year, a 1098 form will be automatically mailed to you by the end of January of the following year. If you need it earlier, the information is actually available January 1 on your year-end member statement (within online banking). Just log in and select E-Statements from the left menu under Services. (Please note that accessing e-statements does not require you to sign up for the full e-services package – thereby turning off paper statement delivery. You can view your statements here any time within online banking without changing your actual statement delivery preferences.)
If, after the end of January, you haven’t received your 1098 form, have misplaced it, or have questions, please contact our Member Support Center at (707) 445-8801. They can look up your interest amount for the prior year and answer any other questions you may have.
What are your fees?
Fees can depend upon the type of loan you select, your credit score, loan-to-value ratio, and other factors. Please contact our Member Loan Services Department at (707) 445-8801, ext. 365 for a more personalized estimate.
Auto Loans
How do I get the title paperwork for my paid-off vehicle?
In order to have your title released right away, your loan must be paid off with guaranteed funds – for example, a cashier’s check, cash, wire transfer, or a transfer from another Coast Central account. If they are not guaranteed funds, such as a check from another institution, we will need to wait for the funds to clear before releasing the title.
Most of our titles are electronic. If your title is electronic, we can release the title to DMV and they will mail the title to you. If you prefer, we can have them send the title to us instead. There may be fees at the DMV associated with having the title put into your name.
If you have any questions about this process, feel free to contact our Member Loan Services department.
What can I do if my vehicle is repossessed?
If your vehicle is repossessed due to nonpayment on your loan with Coast Central, you should contact us immediately to discuss your options. Depending upon your circumstances, you may be able to regain possession of your vehicle and resume a positive loan relationship with the credit union.
How do I update my auto loan insurance information?
Our Member Loan Services Department will need copies of documents showing Coast Central as the lienholder for your vehicle. You may submit these in person (at any of our Member Services Branches), by mail, or by fax at (707) 840-9674. You may also submit your insurance information online at MyLoanInsurance.com.
Mortgage Loans
What can I do if I’m having trouble making my mortgage payments?
If you are currently experiencing financial difficulties in making your Coast Central mortgage payments, the following information may be able to help you.
Home Affordable Modification Program
If you have your primary residence financed with us and this loan originated between January 1, 2003 and January 1, 2008, you may be eligible to receive assistance through our Home Affordable Modification Program. In order to determine your eligibility for this program, we will need the following information:
- A letter or a detailed statement, signed by you, pertaining to your financial problem along with any supporting letters, claims, bills, etc.
- Your current income information (pay stubs/vouchers, unemployment compensation letter, disability awards, etc.
- Please bring this information to your nearest Coast Central Credit Union Member Services Manager. Once we have received the above documents, discussed them with you and have completed our review, we will let you know if you are eligible for the Home Affordable Modification Program.
Other Available Options
The following are other options that might be available to you:
- Selling the house
- Rent the house out and use the monthly income
- Refinance the mortgage and consolidate other debts to ease cash flow
- Deed in lieu of foreclosure (voluntary return of the property to the lender)
Important Phone Numbers
To find a HUD-certified housing counseling agency, please call:
- Toll-free: (800) 569-4287
- Toll-free (TTY): (800) 877-8339
For more information, please feel free to contact our Member Loan Services team or our Collections department.
How much of a down payment is required?
A minimum down payment of 3% is required for all real estate purchases.
Do you offer FHA, VA, or USDA Rural Development Loans?
We do, through our credit union partner. Please contact a Member Loan Services Officer for more information.
Is it worth it for me to refinance my mortgage loan?
Each member’s situation is unique. Please contact one of our Member Loan Services Officers at (707) 445-8801, ext. 385 – we would be happy to do some calculations for you to help you decide.
Do you do construction, land, or manufactured home loans?
Yes (all of the above)! Please check out our current rate sheets and contact our Member Loan Services Department at (707) 445-8801, ext. 385 if you have any questions.