Refinance Your JSC Loan

Select the type of Vehicle
  • Benefits/Good to Know
  • Finance Your Farm Equipment
  • Tools
  • FAQs
 

Benefits

  • Competitive interest rates
  • No penalties if you choose to pay off your loan early
  • Low-cost optional payment protection insurance
  • Free online loan calculators
  • Convenient payment options
 
 

Good To Know

Electronic Title 

The electronic lien and the title program is a paperless method that allows TXDMV and a financial institution or lienholder to exchange vehicle title information electronically. The title record is sent electronically and the lienholder stores the electronic record instead of a paper Certificate of Title. The electronic title is created and held by TXDMV in the state motor vehicle database. When the loan is paid in full upon lien holder's request, the TXDMV will print a paper title and mail it to the owner. 

Loan Payoff

10 business days after a loan has been paid off, JSC FCU will automatically release the electronic lien with TXDMV. After 10 business days has passed, the State will then mail a paper title to you within 7 to 10 business days to the address the Credit Union has on file. If the address on record is incorrect, please update your address with the Credit Union to ensure the title comes to the correct address. Any address changes should be made prior to loan payoff.

Co-borrower
  • The co-borrower, must be a JSC FCU member.
  • Interest rate is based on the qualified co-borrower - parent, grandparent or legal guardian.
  • Loan qualification is based on the parent, grandparent or legal guardian.
  • The co-borrower may choose the name(s) listed on the title. (Both the borrower and co-borrrower or one or the other.)

Finance Farm Equipment

JSC FCU offers extremely competitive interest rates and terms for both new and used vehicle. Use this guide to apply for a loan, find your vehicle and to finalize your loan – we even explain the process in between so you know exactly what’s needed to expedite the process. 

Use the print icon located at the top right to conveniently print the provided information.

Pre-Approval
  • What you will need to provide at application:
    • Personal contact & employment Information
    • Proof of Income
      • W2
      • Pay Check Stub
      • Self Employed: Two years of tax returns
    • Collateral Information (Optional) list specific information including Loan Type
      • VIN Number
      • Year/Make/Model
      • Mileage
      • Color
      • Features
    • Loan Term
    • Amount Requesting if adding on to your loan
    • Down payment (if applicable)
  • Member will receive a pre-approval letter (email for online apps) from a loan officer/processor. This will be your point of contact for your loan closing.
Prior to Loan Closing
  • For online closings,
    • If there is a change in ownership on the title, Member will be emailed a Power Of Attorney (VTR-271 ) form to be signed and notarized by all parties listed or are being added to the title. Because the State requires original signatures, the POA form should be mailed or dropped off in person to your loan processor.
    • Email/fax State Issued Photo ID Must be current (All parties listed on title)
  • For in-branch closings, member should contact their loan officer to schedule a closing appointment.
 
In-Branch Loan Closing
  • Member and all parties listed on the title must be present.
    • Documents to bring to closing
      • Insurance ID Card
      • Current State Issued Photo ID€“ (All parties listed on title)
  • Member chooses optional products:
    • Credit Life / Disability Insurance
  • Member chooses payment options
    • Mail payment coupons
    • Scheduled Transfer
    • ACH payments (from another financial institution)
    • Electronic Transfer

Tools

FAQs

How many months can I finance an farm equipment loan?

You may be able to finance an farm equipment loan for up to 72 months. Please contact a JSC FCU representative for more details.

When can I refinance my current JSC FCU farm equipment loan?

The loan will need to be financed with JSC FCU for at least 1 complete year in order to refinance.

How much does it cost to refinance my current JSC FCU farm equipment loan?

There is a no refinance fees to refinance a farm equipment loan.

Is there a pre-payment penalty on farm equipment loans?

No, you may pay your loan off at any time.

How do I know if my loan is approved?

You will be contacted by the loan officer assigned to your application.

How long does it take to get a loan approved once the application has been turned in?

Loans are typically approved the same day.

How is interest calculated on a farm equipment loan? 

Divide the interest rate by 365 days (# of days in a year), multiply by the principal balance (this gives you the per diem), then multiply that by the number of days from payment to payment. Interest is calculated daily on the unpaid principle balance of the loan.

Do you offer credit life and disability insurance on farm equipment loans? 

Yes, we offer credit life and disability insurance on our farm equipment loans.

Does the title have to be in my name?

Whoever is on the loan can be on the title. 

Can I pick up my title at the Credit Union? 

JSC Federal Credit Union no longer holds paper titles at the Credit Union. 

What is electronic title? 

The electronic lien and the title program is a paperless method that allows TXDMV and a financial institution or lienholder to exchange vehicle title information electronically. The title record is sent electronically and the lienholder stores the electronic record instead of a paper Certificate of Title. The electronic title is created and held by TXDMV in the state motor vehicle database. When the loan is paid in full upon lien holder's request, the TXDMV will print a paper title and mail it to the owner. 

What happens when I payoff my vehicle? 

10 business days after a loan has been paid off, JSC FCU will automatically release the electronic lien with TXDMV. After 10 business days has passed, the State will then mail a paper title to you within 7 to 10 business days to the address the Credit Union has on file. If the address on record is incorrect, please update your address with the Credit Union to ensure the title comes to the correct address. Any address changes should be made prior to loan payoff.

What can I do to receive my title sooner? 

You can request for receive your title sooner by completing the Early Title Release Form and paying with guaranteed funds (cash, verifiable cashier's check, transfer from JSC FCU account, Shared Branch account or wire transfer).

The JSC FCU Title Department will electronically release the Credit Union's lien the next business day. The State will then mail the title to the member within 7 to 10 business days to the  

Title requirements are subject to change due to each individual loan scenario.

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