Home Improvement Financing
What Happens Next?
Well, this is exciting. Congrats on taking a big step toward making your home improvement project a reality. Here’s a quick look at the next steps once your loan application has been approved.
Review Any Loan Approval Conditions
If your loan approval is contingent on you providing further documentation, be sure to promptly send us the required documents to avoid delays. Check your conditional approval email for details on what’s needed and how to securely submit your documents.
Confirm Your Project with Your Contractor
Work with your contractor to confirm all the details of your project. This step ensures that everyone is on the same page before moving forward.
Review and Sign Loan Documents
Your contractor will send the necessary loan documents via Docusign email. All parties will need to review and sign electronically to get your financing in place. Then, your contractor will get to work on your project.
Project Completion
Once the project is finished, you’ll sign a completion certificate to confirm that everything in the scope of your project has been finished to your satisfaction.
Important note: Do not sign a completion certificate or any agreement stating that you are satisfied with the entire project before the project is complete. Contractors are prohibited from requesting or accepting a certificate of completion signed by the customer prior to the actual completion of the work to be performed under the contract.
Loan Repayment
Your first loan payment will be due 30 days after your completion certificate is signed, allowing your loan to be funded. We’ll ask you to set up automatic payments to make your repayment simple and easy—and lock in your 0.25% discounted interest rate*. Automatic payments will be set up via email, so keep an eye on your inbox after your loan has been funded.
Solar Tax Credit
Your solar purchase might qualify for a tax credit, depending on your unique financial situation. Not all individuals will qualify for the credit. We recommend consulting your tax professional to see if you are eligible.
Questions?
We’re here to help.
Thank you for choosing Salal Credit Union for your home improvement or solar financing needs. We’re committed to making your experience smooth and straightforward. If you have any questions or need assistance, feel free to give us a call at 800.562.5515, extension 8902.
- Search
- About Salal
- Careers
- Contact Us
- Locations/Hours
- Blog
- Check Your Application
- Disclosures & Forms
- Terms & Conditions
- Privacy & Security
- Accessibility
- Payment Relief Assistance
Routing Number: 325081610
PO Box 75029, Seattle, WA 98175
Salal CU NMLS #416045
Equal Housing Opportunity Federally Insured by NCUA
*Interest Rate is subject to enrollment in Salal’s automatic payment plan. Failure to set up automatic payment will cause the Interest Rate to increase by 0.25%, which in turn will affect the Annual Percentage Rate. Applicant will be prompted to set up automatic payment after loan funds.
