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Courtesy Deed of Trust

If you are interested in financing a vehicle for the possibility of deducting the interest for tax purposes, consider a Courtesy Deed of Trust. With this type of loan, the vehicle and a deed of trust on your primary residence secure the loan with the same rate and terms as a car loan. To determine if this type of loan will benefit you in terms of tax deductibility, consult your tax advisor.

Unsecured loans are also available with a Courtesy Deed of Trust. The loan is on your primary residence.

  • Closed end
  • Maximum term six years
  • Maximum loan amount $25,000
  • Loan-to-value up to 100 percent
The value of your residence may be determined by a new or prior appraisal completed by an approved credit union appraiser, an automated valuation or the tax valuation on the property.

Processing Fees
There are usually no processing fees. However, if a new appraisal or an attorney's services are necessary to process the loan, fees may range from $250 to $500.

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