It's not hard to imagine a month you could use extra cash — especially when things get tight. Whether it's holiday costs or summertime fun, every season can come with all sorts of extra costs. Hold on to some of your cash during those crucial times with Skip-a-Pay!
Once a year, for only $35, you can skip a payment on any auto loan, recreation loan, or personal loan with a good payment history for the last 6 or more months. Credit card, mortgage, or other lines of credit are not eligible for Skip-a-Pay.
Skip-a-Pay is a service by Listerhill Credit Union which allows members to request to skip a monthly payment. The payment is instead added to the end of a loan, essentially extending the life of the loan by one month. This can be a valuable tool in your financial tool belt.
Auto loans, recreational loans, and personal loans that have not had Skip-A-Pay applied to them within the last year are all eligible for Skip-A-Pay. This includes boat loans, RV loans, 4-wheeler loans etc. However, home loans, Christmas loans, credit cards, and other lines of credit are not eligible.
In order to have your Skip-A-Pay request processed before your loan payment is due, please submit your skip request five (5) business days in advance of the scheduled payment date.
Example: If your next loan payment is due on June 20th, you would need to submit your request no later than June 12th.
Skip-A-Pay may only be used once a year.
Click here to request Skip-A-Pay, agree to do business electronically, and fill out the online form. You must also provide payment for the $35 fee before your loan payment can be skipped. This fee can be transferred from your Listerhill checking or savings account or paid from an outside account.
Use this calculator to help you figure out when you should apply for Skip-A-Pay. Just enter the payment date of the loan that you would like to skip and we can help you figure out how soon you should apply.
This calculator does not account for federal holidays and does not guarantee that your request will be approved or constitute an application. Please submit your application at least 5 business days prior to the date of payment. Members may only use Skip-A-Pay once a year.
A land loan provides you with financing to secure a lot of land and cover the costs for up to 20 years. With Listerhill, you can get a loan on unimproved land.
Once you’re ready to build, you can secure a different type of loan to cover construction costs.
If you aren’t sure how much you’ll need to borrow or when you'll need it, a Home Equity Line of Credit is a great option. Access ongoing cash for a set period of up to 10 years with low minimum payments until your withdrawal period is complete. Contrary to a Home Equity Loan, the interest on a HELOC is a variable rate and may be impacted by the status of the economy.
If you’re the type of person who takes a big-picture view when planning your financial decisions, a home equity loan may make the most sense. Since you’re borrowing a fixed amount at a fixed rate, you can plan how much you’ll pay for the loan in the long run from day one.
Home equity loans provide you with the opportunity to chase dreams to the fullest. Enjoy a vacation with the whole family, invest in a household remodeling project, or even finance an upcoming vehicle purchase with only a few clicks. If you can dream it, you can achieve it!
Home equity loans rely on a loan to value ratio (LTV) to disburse funds, meaning that your credit score and home equity value should be fairly substantial to take advantage of all possible benefits. For assistance in the home equity loan pre-approval process, please speak with your local Listerhill Credit Union branch.