Loans and Credit Cards Support

Pre-qualification is an estimate of how much house you can afford, while pre-approval is a conditional commitment to finance.

• Your current addresses for the past two years
• Social security numbers for all borrowers
• Your employment history for the past two years. (Employer(s) name, address and phone number.)
• Income information for all borrowers. You’ll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income.
• The price of the home you are buying, and how much you’d like to borrow toward the purchase.
• The address of the property you are planning to purchase.
• Bank and brokerage account information, including the institution name and current balances.
• If you own any real estate, we’ll have some basic questions including, address, current market value, the amount you owe, the rental income you receive (if any), and what your monthly payment is.
• Information about your current debts. We’ll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment.

It will take between 20 and 30 minutes to fill out the online application. Be sure you have gathered all of the necessary information (see question above) to streamline the process.

The interest rate depends on the program you will use to purchase or refinance. Check out the latest rates.

We do not. But we’ll help you save for a 5% down payment, which protects ownership of your home should property values decrease. We can also connect you with down payment assistance programs.

Must be currently applying for Citizenship Status, as well as pay a $20 application fee. If you live in VA or MD, you must process the application through CARECEN or Casa De Maryland.

Look at the monthly payment, insurance, registration, fuel, maintenance, storage, and possible repairs. These costs can affect your budget after purchase.

Our recreational and specialty vehicle loans can be used to finance the purchase or refinance a loan for any of the following types of vehicles:

• Motorhomes
• Campers, including Fifth-Wheel Campers, Travel Trailers, Pop-up Campers, and Slide-on Campers
• Motorcycles
• All-Terrain Vehicles (ATVs)
• Jet Skis
• Snowmobiles

Is your desired vehicle not on this list? Call us at 771-333-2038 to see if this is the right loan for your specialty vehicle purchase.

It may. DC Credit Union says refinancing may help lower your interest rate or monthly payment, depending on your current loan and the refinance terms. Compare the rate, payment, remaining balance, and loan term before you switch.

Start with the loan you have now. Look at your rate, monthly payment, remaining balance, and months left on the loan. Then compare those details with the new rate, payment, and term before you decide.

Yes. DC Credit Union can help you review an auto loan you have with another lender. We’ll look at your current rate, payment, balance, and term so you can compare it with a refinance option.

DC Credit Union auto loans are available to eligible members. If you are not a member yet, you can apply for membership as part of getting started with your loan application.

DC Credit Union membership is available to people who live, work, worship, or attend school in Washington, D.C., or Prince George’s County, Maryland. Businesses and other legal entities located in either area may also qualify.

Eligibility also extends to DC Credit Union employees, community volunteers, eligible family or household members, certain organizations connected to eligible individuals, and spouses of people who died while within the credit union’s field of membership.

Yes. Both are optional add-ons. GAP covers you if your car is totaled or stolen. Debt Protection cancels or reduces your monthly loan payment or outstanding balance should you face an unexpected life event such as death, disability, involuntary unemployment or family medical leave of absence. You can add either or both to your loan. Just let us know you're interested when you apply.

Look at more than the sticker price. Compare the monthly payment, loan term, insurance cost, taxes, fees, possible repairs, and how the vehicle fits your regular budget.

Your pre-approval is good for 60 days. That gives you time to shop for the right vehicle without pressure while you know exactly what you're approved to borrow.

Yes. DC Credit Union offers financing for new, and used vehicles. You can compare both options and choose the vehicle that best fits your needs, budget, and timing.

You can fill out your application in 15-30 minutes. We usually make decisions within 24 hours or less. Final approval depends on how quickly you can get us the documents we need. To make your application process faster, please have the following documents on hand:

• Identification: Valid driver's license, state ID, passport, or military ID
• Social Security card or ITIN documentation
• Proof of income: Recent pay stubs (last 30 days), W-2 forms, or tax returns
• Proof of residence: Utility bill, lease agreement, or mortgage statement (within 60 days)
• Bank statements: Last 2-3 months showing account activity
• Employment verification: Contact information for your employer or offer letter if recently hired
• Down payment funds: Proof of available funds if making a down payment
• Vehicle information: VIN, purchase price, and seller details (once a vehicle is selected)
• Trade-in documentation: Title and registration if trading in a vehicle
• Proof of insurance: Insurance binder or policy declaration page

Yes. Pre-approval can help you understand your financing range before you pick a specific new or used vehicle. That gives you a clearer budget before you visit the dealership, compare prices, or talk through payment options.

To make your application process faster, please have the following documents on hand:

• Identification: Valid driver's license, state ID, passport, or military ID
• Social Security card or ITIN documentation
• Proof of income: Recent pay stubs (last 30 days), W-2 forms, or tax returns
• Proof of residence: Utility bill, lease agreement, or mortgage statement (within 60 days)
• Bank statements: Last 2-3 months showing account activity
• Employment verification: Contact information for your employer or offer letter if recently hired
• Down payment funds: Proof of available funds if making a down payment
• Vehicle information: VIN, purchase price, and seller details (once a vehicle is selected)
• Trade-in documentation: Title and registration if trading in a vehicle
• Proof of insurance: Insurance binder or policy declaration page

You must be eligible for DC Credit Union membership to receive an auto loan, recreational vehicle (RV) loan, or specialty vehicle loan. Before you apply, please confirm that you meet one of the following requirements:

DC Credit Union membership is available to people who live, work, worship, or attend school in Washington, D.C., or Prince George’s County, Maryland. Businesses and other legal entities located in either area may also qualify.

Eligibility also extends to DC Credit Union employees, community volunteers, eligible family or household members, certain organizations connected to eligible individuals, and spouses of people who died while within the credit union’s field of membership.

We understand that applying for a car loan with limited or no credit history can be frustrating. We’d suggest applying with a co-signer. Co-signers agree to be equally responsible for repayment, and their excellent credit history can support your lack of established credit. Another option is to begin with a smaller loan amount to establish a repayment history. Along with other factors, we take a large down payment and a smaller loan request into consideration. Additional factors may include:

• A long-term employment history
• A shorter repayment term
• Other established sources of payment history, such as a long-term apartment rental, or established repayment on a utility bill

We’re happy to sit down with you to review your request and make recommendations that may help you obtain your first auto loan.

The most common reason for refinancing your loan is to lower your interest rate. If rates have fallen since you got your loan, refinancing could save you money. You may also be able to lower your monthly payment, either by lowering your interest rate or by extending the term of repayment. Give us a call at 771-333-2038 to speak with a loan officer and we’ll calculate your potential savings.

You can get pre-approved immediately! Submit an application online or call us at 771-333-2038, option 1. Pre-approval gives you an edge when negotiating a sales price with the dealer. It’s like cash on hand!