Lifestyle loans are your golden ticket to endless possibilities. Dream wedding? Check. Cosmetic upgrades? You got it. Starting a renovation or building a LEGO empire? Absolutely! There is no judgment here. Just slap on your signature or some collateral and let the magic begin.
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Consolidation Loans
If unexpected financial events forced the use of high-rate credit cards, payday loans (gulp!), or hocking a family heirloom to stay afloat (double gulp!), fear not. A consolidation loan is here to save the day to reduce interest and fees and get out of debt quicker.
Lifestyle Loan Calculators
When can I pay off my credit card?
This calculator computes how long it will take to pay off a credit card debt.
How much can I afford to borrow?
Use this calculator to find out how much money you can afford to borrow.
Should I consolidate my loans?
Determine the advantage or disadvantage of consolidating various debts.
How soon can I eliminate my debt?
This calculator helps you evaluate various strategies for paying off your debt.
Credit (re)Builder
Whether you are building credit for the first time or repairing credit, a credit (re)builder loan will help increase your credit score and build better borrowing habits.
Lifestyle Loan FAQs
What is a lifestyle loan?
A lifestyle loan is an unsecured loan provided for a variety of purposes, that don’t require collateral like a house or car loan does and are instead based on the borrower’s creditworthiness and ability to repay. You typically receive a lump sum of money and repay it in fixed monthly installments over a set period, often with a fixed interest rate.
What can a lifestyle loan be used for?
Lifestyle loan funds can be used for whatever you want! Some examples are consolidating debt, medical expenses, major purchases, education, travel, special events, home improvements, and emergency expenses.
Can I skip my loan payment?
Yes, if you’re running short or need some extra cash, don’t stress over your loan payment! Just skip it with our Skip-A-Pay option.
Why is a lifestyle loan a good choice?
A lifestyle loan can be a good choice for several reasons including flexibility to use the funds for a wide range of purposes, fixed payments that remain consistent each month, predictable terms with a set repayment period, and quick access to funds which is useful for urgent needs.
Can a lifestyle loan increase credit score?
A lifestyle loan can potentially increase your credit score, but it depends on how you manage it. Making on-time payments and adding a lifestyle loan can diversify your credit mix, could be used to pay down credit card debt, and contribute to your credit history length which can all positively impact your credit score.
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Disclosures
It is the policy of Altana Federal Credit Union to comply with all fair lending laws and regulations, including the Equal Credit Opportunity Act (ECOA), the Home Mortgage Disclosure Act (HMDA), the Fair Credit Reporting Act (FCRA), and the Fair Housing Act. In addition, the Credit Union adheres to federal regulatory agency fair lending guidance as set forth in the Interagency Policy Statement on Discrimination in Lending. Under the Equal Credit Opportunity Act (ECOA), it is illegal to discriminate in any credit transaction based on race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), applicant’s receipt of public assistance income, and/or the applicant’s exercise of any right under the Consumer Credit Protection Act.
