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Personal Loans FAQs

1. How do I apply for an auto loan?
2. How long does it take to get approval?
3. What information do I need to submit in order to get my loan pre-approved?
4. What kind of Auto Loan products you have?
5. What are eligible vehicles for SHBA Auto Loan?
6. What are maximum mileage and year of used vehicle?
7. What are loan terms?
8. Can I get any discount on interest rate?
9. Is it possible to get Auto Loan without credit history or SSN?
10. How much will my monthly payments be?
11. What residential home mortgage programs do you offer?
12. I am a foreign national and don’t have credit. Can I get approved for a home mortgage?
13. Can I still qualify for Home Mortgage even if I don’t have a good credit score?
14. What if I can’t afford the monthly payments?
15. Isn’t the process of getting a home mortgage take long and complicated?


1. How do I apply for an auto loan?

- Simply stop by nearest SHBA branches or call (646) 646-843-5109

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2. How long does it take to get approval?

With appropriate information, 1 hour is enough to get your pre-approval.

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3. What information do I need to submit in order to get my loan pre-approved?

We need your Driver's License, Visa status and a source of payment

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4. What kind of Auto Loan products you have?

You can get auto loan for purchasing of new & used vehicle, refinancing, and also for lease buyout.

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5. What are eligible vehicles for SHBA Auto Loan?

New and used passenger cars, sport utility vehicles for personal use. (Commercial and recreational vehicles, motorcycle, conversion vans are not included.)

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6. What are maximum mileage and year of used vehicle?

The vehicle cannot be older than 4 years with a maximum of 90,000 miles.

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7. What are loan terms?

3 to 5 years for new vehicles, and 2 to 4 years for used vehicles.

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8. Can I get any discount on interest rate?

Absolutely!! Various discount plans are available such as -0.10% when you sign up for Automatic Payment System. Please contact Consumer Lending team for more information.

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9. Is it possible to get Auto Loan without credit history or SSN?

Yes. You don't need a perfect credit score to get an Auto Loan. Please contact us for more information.

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10. How much will my monthly payments be?

We will gladly help you to estimate your future car payment. Please contact us.

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11. What residential home mortgage programs do you offer?

We have various programs available for first time home buyers, fixed or variable rate options, or programs for customers with new or even no credit. Please contact our mortgage consultants at (949) 660-0505 ext.6355 (CA) or (201) 363-9005 (NY/NJ).

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12. I am a foreign national and don’t have credit. Can I get approved for a home mortgage?

We have products that were specially made for foreign national customers who don’t have credit. Our experienced loan consultants can help you explore the different possibilities.

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13. Can I still qualify for Home Mortgage even if I don’t have a good credit score?

We don’t just look at your credit score but also other favorable conditions you may have that may strengthen your potential. We will gladly explore and discuss the options available to you.

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14. What if I can’t afford the monthly payments?

While rental payments have the tendency to increase over time, a fixed-rate mortgage has the same principal and interest payment every month during the fixed rate period. Mortgage payments also have tax advantages while rental payments do not. Please consult a tax advisor regarding tax advantages.

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15. Isn’t the process of getting a home mortgage take long and complicated?

We have loan consultants that will guide you through each step of the process with ease, quickly yet accurately. You can expect the difference in our exceptional service, and we guarantee simple, on-time closing.

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