Can i get a CU Loan for a Granny Flat Renovation

[Pinoy adventure]

Can you repay a credit union loan of this size 85k early ?

I would assume yes,but verify with credit union

 

[Glammy]

credit unions are lending for home renovations up to 75k. the loans can be repaid early without penalty. it is possible that one your parents could take out the loan and you make the repayments. with the credit union they are insured up to age 84..that means that the loan would be cleared by the credit union insurance should the parent pass away before the loan is repaid.

 

[FearFolomh]

credit unions are lending for home renovations up to 75k. the loans can be repaid early without penalty. it is possible that one your parents could take out the loan and you make the repayments. with the credit union they are insured up to age 84..that means that the loan would be cleared by the credit union insurance should the parent pass away before the loan is repaid.

The insured loan balance is repaid in full, subject to terms and conditions and certain cover limits which apply.
When borrowing from your credit union, a member is eligible for loan insurance cover if they have not reached their 70th birthday (check with your credit union as this can be extended up to the 80th or 85th birthday).