It's important that you have all the information you need when managing your Truliant loans. Here we address popular topics so we can help guide your financial growth and improve your life.
Contact us today if you have further questions. Or feel free to visit one of our Member Financial Centers in North Carolina, South Carolina and Virginia. Truliant is committed to providing the products and services members in the Triad and beyond need to strengthen their finances and improve their lives.
General Loan FAQs
I would like to apply for a loan. Are there age restrictions?
Member-owners must be at least 18 years old in order to apply for a loan with Truliant.
I am not a Truliant member, but I would like to apply for a loan. How do I get started?
Non-members may apply for a loan, but must open their membership before the loan is funded. Call 800-832-0382 or visit one of our Member Financial Centers to start and finish the process with ease and convenience. You can also open a membership easily online, 24/7.
How do multiple credit report inquiries impact me while I shop for a mortgage or auto loan?
"Hard inquiries" occur when lenders and creditors check your credit in response to a credit application. A large number of hard inquiries can impact your credit score. However, if you are shopping for a new auto or mortgage loan or a new utility provider, the multiple inquiries are generally counted as one inquiry for a given period of time. That period of time may vary depending on the credit scoring model, but it's typically from 14 to 45 days.
Can I make a loan payment online?
Yes, you can, via one of your Truliant accounts through online banking.
How can I find the maturity date on my loan?
You can call our Member Contact Center at 800.822.0382, or visit one of our Member Financial Centers for details. You can also find it in online banking under “See Account Details” of the loan in question.
Auto Loan FAQs
Where can I find the payoff on my auto loan?
You can see your loan payoff in your online banking or in the Tru2go mobile app. You may also call 800.822.0382 or visit any of our convenient locations to receive your payoff or get a projected payoff quote that can include additional daily interest.
I paid off my loan but haven't received my title. How can I get that document?
Usually 15 business days from the loan payoff is the earliest you can expect the title to be received. Further delays may be experienced in the handling by the USPA and/or the DMV. If it has been longer than 15 days, please visit your local Member Financial Center or call our Member Contact Center at 800.822.0382.
I would like to add or remove a name from a title. Can Truliant help me?
Yes, Truliant can assist you with this process. To get started, please visit your local Member Financial Center or contact our Member Contact Center at 800.822.0382.
I am moving to another state. What will I need to do to register my automobile?
Please check your state’s requirements on registration.
Mortgage/Home Equity FAQs
How does Truliant handle tax form 1098 regarding interest paid last year?
1098 Interest Paid for Tax Purposes - Your 1098 tax form, which shows year-to-date interest paid last year on any home loan you have with the Credit Union for tax purposes, will be mailed no later than January 31. If you paid less than $600 in mortgage interest last year, a 1098 form will not be mailed for your account; however, your information can still be accessed if you need it for your taxes. Refer to last year's statements for complete tax records or visit your account in Online Banking and click on "See Account Details" for last year's interest and other tax related information.
Where can I find mortgage rates?
You can find them online or call a Truliant representative for details.
I would like to get a Home Equity Loan with Truliant, but I live out of state.
Truliant offers home equity oans in seven states: Florida, Tennessee, North Carolina, South Carolina, Ohio, Virginia and Georgia.
How much money will I save choosing a 15-year loan over a 30-year loan?
A 15-year fixed-rate mortgage gives you the ability to own your home free and clear in 15 years. While the monthly payments are somewhat higher than a 30-year mortgage, the interest rate on the 15-year mortgage is usually a little lower. Therefore, you'll pay less than half the total interest cost of the traditional 30-year mortgage. However, if you can't afford the higher monthly payment of a 15-year mortgage, you're not alone. Some borrowers find the higher payment out of reach, and choose a 20-year or 30-year mortgage.
Can I really borrow funds to use toward my down payment?
Yes, you can borrow secured funds to use as your down payment. However, any loans you take out must be secured by an asset you own. If you own something of value that you could borrow funds against, such as a car or another home, it's a perfectly acceptable source of funds. If you plan to obtain a loan, make sure to include details of this loan in the Expenses section of the mortgage application. We must include the new payment in the Expenses/Income ratio.
If my property's appraised value is more than the purchase price, can I use the difference toward my down payment?
Unfortunately, if you are purchasing a home, we'll have to use the lower of the appraised value or the sales price to determine your down payment requirement. It's still a great benefit for your financial situation if you are able to purchase a home for less than the appraised value, but we don't use this "instant equity" when making loan decisions.
I'm getting a gift from someone else. Is this an acceptable source of my down payment?
Gifts are an acceptable source of down payment, if the gift-giver is related to you or your co-borrower. We'll ask for the name, address and phone number of the gift-giver, as well as the donor's relationship to you. Prior to closing, we'll verify that the gift funds have been transferred to you by obtaining a copy of your bank receipt or deposit slip to verify that you have deposited the gift funds into your account.
I am selling my current home to purchase this home. What type of documentation will be required?
If you're selling your current home to purchase your new home, we'll ask you to provide a copy of the settlement or closing statement you'll receive at the closing to verify that your current mortgage has been paid in full and you'll have sufficient funds for our closing. The closing of your current home often is scheduled for the same day as the closing of your new home. If that's the case, we ask that you bring your settlement statement to your new mortgage closing.
Do I have to have an escrow account?
If you are purchasing an investment property or the Loan-To-Value on the home you are purchasing is more than 80%, then an escrow account is required.
Are there any prepayment penalties charged for these loan programs? There are no prepayment penalties associated with the mortgages we offer. You can pay off your mortgage anytime with no additional charges.
What mailing address can I use to mail payments/deposits, titles or mortgage information to?
Truliant Federal Credit Union
Attn: Mortgage Department
PO Box 26000
Winston Salem, NC 27114
Business Loan FAQs
What types of business loans do you offer?
We offer a wide range of business loan types. They include:
- Commercial Real Estate Loans
- Construction Loans
- Business Lines of Credit
- Business/Fleet Auto/Truck Loans
- Equipment Financing
- Small Business Administration (SBA) Loans
- USDA Business and Industry Programs
- Business Visa Credit Cards
Contact one of our team members directly for your business or commercial banking needs.