Support Home Applying for a Loan How does applying for a loan affect my credit? Checking your rate with Texas Bay Credit Union will not affect your credit score.… When and how do I receive my loan funds? If you accept your loan before 5:00pm EST Monday-Friday, you should receive your … What is the range of interest rates offered on loans, and what is the difference between APR and interest rate? All Texas Bay Credit Union loans offer a fixed rate, but individual rates are det… Can I change my loan application after it has been submitted? You will not be able to edit your application once it is submitted. Please be sur… What can I use the loan proceeds for? You can use your loan proceeds for almost anything. The following are some option… How much money can I borrow? You can borrow between $1,000 and $20,000.… What agreements do I have to agree to in order to receive a loan? In order to receive your loan you must agree to the Borrower Platform Agreement, … How are interest payments calculated? Texas Bay Credit Union uses simple interest to calculate interest payments. A spe… How do I apply for a loan? Please complete the brief online application that will include information about … What is the difference between a soft and hard credit inquiry? There are two kinds of inquiries (or pulls) that can occur on your credit report:… Can I negotiate the rate or my loan terms? No, you cannot negotiate the loan terms or rate. Your rate is generated by the mo… Why do you need my social security information? We must collect and verify your personal information, including your date of birt… Can you withdraw or delete my application? If you wish to withdraw from the application process, please email us at texasbay… What fees am I charged? Fee Amount Frequency Description Late Payment Fee $29 Per occurrence If a borrowe… Are loans through Texas Bay Credit Union fixed rate or variable rate? All loans through Texas Bay Credit Union have a fixed interest rate, which means …