| TYPE |
RATE TIER* |
DAILY RATE |
ANNUAL
PERCENTAGE |
GOLDEN RATES** |
| New Automobile, Boat, RV, and Motorcycle. Current year and previous year untitled (max term is 72 months***) |
I
II
III
IV |
.0123%
.0150%
.0178%
.0205%
|
4.50%
5.50%
6.50%
7.50% |
minus .50%
minus .50%
minus .50%
minus .50% |
| Used Automobile, Boat, RV, and Motorcycle, not more than 6 years old (max term is 5 years)*** |
I
II
III
IV |
.0137%
.0164%
.0192%
.0219% |
5.00%
6.00%
7.00%
8.00% |
minus .50%
minus .50%
minus .50%
minus .50% |
| Share Secured |
n/a |
.0123% |
4.50%
(36 month max) |
| Signature Loans***** |
Specified:
$500 to $10,000
(max term is 48 months) |
I
II
III
IV |
.0233%
.0261%
.0288%
.0315% |
8.50% Up to $30K
9.50% Up to $20K
10.50%
11.50% |
| When applying for a debt consolidation loan, all debts must be paid directly by the credit union. |
Debt Consolidation
Secured by title
(max term is 48 months)
Collateral not over 6 years old
|
I
II
III
IV |
.0164%
.0192%
.0219%
.0247% | 6.00%
7.00%
8.00%
9.00% |
Home Equity Lines of Credit
$150K MAXIUMUM, 90% Loan to Value, conditions apply |
I, II, & III only |
.0144% |
5.25%
(VARIABLE)
(PRIME Plus .25%) |
| |
|
2nd Mortgages |
3rd Mortgages |
| |
RATE
TIER |
DAILY
RATE |
ANNUAL
PERCENTAGE |
DAILY
RATE |
ANNUAL
PERCENTAGE |
"HOMER" 5 year
Up to 100% Loan to Value, $15K Maximum |
I
II
III
IV |
.0137%
.0164%
.0192%
.0219% |
5.00%
6.00%
7.00%
8.00% |
.0164%
.0192%
.0219%
N/A |
6.00%
7.00%
8.00% |
"HOMER II" 7.5 year
Up to 100% Loan to Value,
Maximum DR is 55%
$25 K Maximum |
I
II
III
IV |
.0164%
.0205%
.0233%
.0261% |
6.00%
7.50%
8.50%
9.50% |
.0205%
.0233%
.0261%
N/A |
7.50%
8.50%
9.50% |
| Limited Term Home Loan Fixed when application is approved, Fixed Rate, LTV Max is 80%, 10 year term, other restrictions apply. $200,000 maximum loan. Minimum Loan is $25,000 |
I
II
III
IV |
Prime plus 1%
Prime plus 2%
N/A
N/A |
(Rate to re-price at 5 year)
|
Tuition Assistance Loan
(Maximum term 6 months) |
|
.0137% |
5.00% (Sponsor Approved) |
Student Assistance Loans
($10,000 maximum, 5 year term) |
|
.0110% |
4.00% (Sponsor Approved) |
|
*Risk Based Pricing Matrix
There are two “TIERS”. Credit Score from Equifax and Debt to Income Ratio.
(If the applicant falls into either column within the tier, they get the least favorable tier group rate)
TIER LEVELS (In cases of joint credit applications, we will use the highest of the two credit scores and the joint debt ratio unless the applicants don’t meet the criteria for joint status)
Column 1
(Credit Score) |
OR | Column 2
(Debt Ratio) | = | Rate Group
APR |
750 - 850
650 - 749
601 - 649
550 - 600 |
|
0 - 39%
40 - 49%
50 - 59%
60 - 70% |
|
I
II
III
IV |
Any combination of low credit score, high debt to income ratio and certain other issues such as bankruptcy, repossessions, judgments, garnishments, tax liens, foreclosures, unemployment, value of collateral and false statements on the application can cause a denial of the loan application.
** "GOLDEN KEEPER" Rates are for personal automobile loans only with 10% down payment and a finance term of no more than 4 years. One half of one percent off the regular rate for the tier the borrow qualifies for. New loan only.
*** The member must borrow $15,000 or more to obtain 72 month financing of a new car
**** The automobile model years financed change every October First. Confirm with the Credit Union that the car you want is eligible for financing and at what rate.
***** The minimum Loan is $500.
Rates Subject to Change at any Time Without Notice.
The rate you are charged for loans may not be the same as those charged to others due to your credit history and debt-to-income ratio. |
