How can I make my ALEC loan payment?
- Request a transfer within Online Banking
- Select the loan payment option when using our Telephone Banking service
- Mail your payment to: ALEC, 401 N. Riverside Dr Suite 1-A, Gurnee, IL 60031
- Return your payment to any ALEC Service Center
- Request a transfer within Mobile Banking
How can I apply for an ALEC Mortgage Loan? You can apply online in our Online Mortgage Center. If you prefer, you can schedule an appointment with a Mortgage Specialist to begin your application.
How can I apply for a home equity loan or home equity line of credit?
- Online 24/7
- By phone 24/7 at 800.762.9988
- In person at any of our Service Centers.
Are there any closing costs for a Home Equity Loan or Equity Line of Credit? No. ALEC will waive your closing costs for fees including Property Appraisal, Title Insurance, Recording Fees, and Flood Certification.
What additional documents are required when submitting a Home Equity Loan? To expedite the approval process of your home equity application, ALEC will need the following documents:
- Your most recent mortgage statement showing your current balance, the Mortgage Company's name, address and your loan number. We also need this information if you have a current second mortgage.
- The Declaration Page of your Home Owner's Insurance Policy along with your agents name, address and phone number.
- Your most recent tax bill showing the permanent index number or the legal description of the property.
- Your most current pay stub(s) and most recent W2(s).
The documents can be return by mail, fax or in person.
|By Mail||By Fax|
ALEC - Real Estate Department
401 N. Riverside Drive, Suite -1-A
Gurnee, IL 60031-5915
Attn: Real Estate Department
You can forward the information to any of our ALEC Service Centers.
Click here for locations and hours.
How much of my automobile can I finance with a loan at ALEC? ALEC will finance up to 115% of the MSRP for qualified borrowers. All loans are subject to credit approval.
How long does it take to get approved after submitting a loan application? You can be instantly approved when using our online loan application. A Member Service Representative will contact you to schedule a closing date. You may be asked for additional information for final approval.