Borrowing 101 - Borrowing Made Easy

Thinking of buying a new vehicle? Or perhaps you're shopping for a new credit card? Whatever your borrowing needs, we want to make the process as easy as possible for you. For any loan other than real estate secured loans, we have a simple list of items that you can send, fax, email or bring to our office that will speed up the approval of your loan.

Section 1: All Loan Types

For all loans we need the following:

A copy of a recent paystub or documentation of income for each signer.

Self employed individuals need to provide two (2) years of completed income tax returns.

A copy of direct deposit statements will also be accepted in place of a paystub.

The dollar amount you want to borrow.

A completed loan application. Go ahead and apply online.

The number of months you want to finance for.

Section 2: Secured Loans

For auto, RV or other secured loans, we will need the information above plus the following:

Year, make, model and accessories on the vehicle, mortorcycle, RV or other vehicle.

The Vehicle Identification Number (VIN).

For private sales, please have a copy of the title to the vehicle or security. We will need the original title at the closing of the loan to record our lien.

For dealer sales, please ask for a copy of the sales invoice showing any trade-in or down payments you made.

Sales price of the item.

Vehicle mileage.

Section 3: Real Estate Loans

For Real Estate Secured Loans, we will need the information in Section 1, plus the following:

A completed real estate loan application (First Mortgage or Home Equity).

The dollar amount you want to finance.

The property address and legal description if possible.

Section 4: Real Estate Loan Fees

The following are items that you will be responsible for paying in the event you proceed with a real esatate secured loan: (Costs depend on the property, please ask for details.)

1. Title Insurance. (This checks the property for liens or document problems and insures you and the credit union that there are no hidden liens or obligations.)
2. Flood Insurance. (This protects your property in the event there is a flood. It is required for all real estate secured loans.)
3. An appraisal by a contracted real estate appraiser for the area that the property is in.
4. A mortgage credit report.
5. Recording the deed with the County Register of Deeds.

Communication

You can mail documentation to:
Kent County Credit Union
1619 Plainfield Avenue NE
Grand Rapids, MI 49505

You can fax documentation to:
Plainfield Office - 616-363-3666
South Office - 616-531-7841
North Office - 616-696-3651

You can email documentation to: loans@myKCCU.com

Or you can stop into any of our three (3) offices and drop off the information.