MORTGAGES

MORTGAGES
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CONSUMER LOANS

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Effective date: 03/23/2017

CONSUMER LOANS
Sub-category APR* Max Term
(Months)
Estimated Monthly Payment per
$1,000 borrowed
Auto
Model Years 2017-2012 1.69% 36** $28.69
2.14% 48** $21.89
2.64% 60** $17.92
3.64%   72**** $15.58
Model Year(s) 2017 only
$30K Min Fin
4.64% 84**** $13.99
Model Years 2011-2000 5.14% 48 $23.24
5.64% 60 $19.29
Boats and Recreation Vehicles
New & Used 8.00% 72 $17.65
9.00% 240 $9.06
Motorcycles
New & Used 5.49% 60 $19.09
Personal
12.99% 72 $20.07

*APR – Annual Percentage Rate. Loan rates are subject to change at any time without notice. Rates for automobiles, boats, recreational vehicles, motorcycles and personal loans reflect a .25% discount for automatic payment from an LCU checking or savings account. Rate is determined by your personal credit history. Other rates, terms, and conditions may apply. Consumer type vehicles only at these rates. Commercial type vehicles will have increased rates. Up to 120% financing available on consumer autos. LCU members must maintain a $25 deposit relationship. Amount financed includes $65 VSI Insurance. Rates for autos older than 2000 – call us for rates.

**Rate requires: 730+ FICO Credit score, autopay from an LCU deposit account and a maximum loan to value ratio of 80%. Rate is not available to all borrowers and all loan requests are subject to LCU underwriting criteria. Not available for commercial purpose vehicles.
72 month term – minimum amount financed $15,000.00.
****84 month term available for top credit tiers only, on current year, new vehicles with minimum amount financed of $30,000.00.

HOME EQUITY LOANS

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Effective date: 03/23/2017

HOME EQUITY LOANS
APR* Max Term
(Months)
Minimum Maximum Monthly payment
per $10,000
Home Equity Loans**
3.49% 60 $10,000.00 $250,000.00 $181.87
4.25% 120 $10,000.00 $250,000.00 $102.44
4.99% 180 $10,000.00 $250,000.00 $79.03
5.99% 240 $10,000.00 $250,000.00 $71.59
LCU Home Equity Line of Credit***
1.99% 240 $10,000.00 $250,000.00 $16.36
LCU Home Equity Plus Line of Credit ****
5.75% 240 $10,000.00 $100,000.00 $47.26

*APR – Annual Percentage Rate. Rates may be subject to change without notice

**Equity is determined by taking 80% of property value and deducting balance of any mortgages. If appraisal is required, charge will range from $400 to $550. The minimum loan amount is $10,000 and the maximum is $250,000. Property insurance required. No closing costs. LCU members must maintain a $25 deposit relationship.

***An introductory Annual Percentage Rate (APR) as low as 1.99% for the first twelve billing cycles with a periodic rate of 0.00545%. Thereafter, the APR will be set on the last business day of each month which will be either a floor rate of 3.50% APR with a periodic rate of 0.00959%, or, 1.00% below the Prime Rate published in the Wall Street Journal on the last business day of each month, whichever is greater. Automatic payment from LCU transaction account required to receive the stated APR. If automatic payment is cancelled or not established, APR will increase by .70%. Maximum rate is 18%. Floor rate is 3.50%. Draw period is 10 years with 10 additional years to repay.  Equity determined by taking 80% of property value and deducting balance of any mortgages. If appraisal is required the charge will range from $400 to $550. The minimum loan amount is $10,000 and the maximum is $250,000.  Property insurance required. No closing costs. Rate subject to change after consummation. LCU members must maintain a $25 deposit relationship. An early termination fee of no more than $750 may be imposed to cover fees paid to third parties if line is discharged within 24 months of note date. Offer applies to owner occupied primary residences only. Offer may be withdrawn without notice. All requests subject to credit approval.  Actual rate and margin offered may be adjusted based on your credit history and other factors that could impact our actual rate. This may result in higher rate than our published rate.

****Annual Percentage Rate (APR) is variable and is adjusted monthly to Wall Street Journal Prime Rate plus 2.00% as published on last business day of month. Maximum rate is 18%. Floor rate is 5.00% APR with a periodic rate of 0.01370%. Automatic payment from LCU transaction account required to receive the stated APR. If automatic payment is cancelled or not established, APR will increase by .70%.  Draw period 10 years with 10 additional years to repay. Interest only payments billed during the draw period. Equity determined by taking 95% of property value and deducting balance of any mortgages. If appraisal is required the charge will range from $400 to $550. The minimum loan amount is $10,000 and the maximum is $100,000. Homeowners insurance required. No closing costs. Rate subject to change after consummation. LCU members must maintain a $25 deposit relationship. An early termination fee of no more than $750 may be imposed to cover fees paid to third parties if line is discharged within 24 months of note date. Offer applies to owner occupied primary residences only. Borrowers must meet PMI Company underwriting guidelines.