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Loans Overview VISA Protecting Your Investment Calculate Loan Payment Calc Mortgage Payment Calc Mortgage Amortization
Loans
Loan Fact Sheet
Effective May 1, 2008
Type of Loan
  
Signature
 
Line of Credit
 
VISA
  
Share Secured
 
Certificate Secured
 
Other Secured		 Maximum Amounts
  
$200 - $10,000
 
$200 - $10,000
 
$200 - $10,000
 
100% of Share Acct. Balance
 
100% of Certificate Amount
 
Based on Collateral Value		 APR
  
10.00% - 18.00%
 
9.00% - 18.00%
 
9.99%
  
Account Rate + 3% (4.00% floor)
 
CD Rate + 3% (5.00% floor)
 
9.75% - 18.00%
New Auto
  
Used Auto		 100% of Purchase
  
85 - 100% of Kelley Blue Book		 5.25% - 15.75%
  
5.500% - 16.00%
New RV's & Boats
Used RV's Boats
 
New Motorcycles
Used Motorcycles
 
New Personal Watercraft
Used Personal watercraft		 100% of Purchase
85% of Current Market
  
100% of Purchase
70% of Current Market
 
100% of Purchase
70% of Current Market		 6.50% - 17.00%
7.00% - 17.50%
 
9.00% - 18.00%
10.00% - 18.00%
 
9.00% - 18.00%
10.00% - 18.00%
Home Equity Line of Credit
  
 
Second Mortgage
  
 
Mobile Homes		 80% Loan to Value
90% Loan to Value
   
80% Loan to Value
90% Loan to Value
 
$5,000 to $50,000		 5.00% - 15.50%
5.50% - 16.00%
  
7.00% - 17.50%
7.50% - 18.00%
 
8.75% - 18.00%
All loans are subject to approval. Loan rates are subject to change every 30 days.
$20.00 non-refundable application fee for loan advance requests.
1% origination fee required for Home Equity Loans. Member pays all 3rd party fees.
Subsequent advances on lines of credit subject to $10.00 documentation fee.
$20.00 late charge for payments received 7 days after due date.
If any payment on a loan becomes past due 45 days, the Annual Percentage Rate for that loan will be increased to 18% for the remaining time that the loan is outstanding. Your minimum payment will be increased to the amount necessary to repay the loan over the originally scheduled payment period.
Members maintaining aggregate household deposit balance of $5,000.00 may receive .25% reduction in interest rate indicated by their credit score.
A CARFAX report will be required on all USED car loans. The $15.00 charge for this report will be added to the principal amount of the loan.
 
 
 
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Rite Choice Community Federal Credit Union