MORTGAGES

MORTGAGES
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CONSUMER LOANS

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Effective date: 02/25/2018

CONSUMER LOANS
Sub-category APR* Max Term
(Months)
Estimated Monthly Payment per
$1,000 borrowed
Auto
Model Years 2018-2014 .99% 36** $28.45
2.14% 48** $21.94
2.64% 60** $17.96
3.64%   72**** $15.61
Model Year(s) 2018+ or “New” only
$30K Min Fin
4.64% 84**** $14.08
Model Years 2013-2002 4.14% 48 $22.83
4.64% 60 $18.87
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 $85 VSI Insurance. Rates for autos older than 2002 – 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.

♦♦Not available for refinances of existing LCU loan balances.

****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: 02/25/2018

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 ****
6.50% 240 $10,000.00 $100,000.00 $53.42

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

**Equity is determined by taking 80% of the property value and deducting the 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 is required. Must be a junior lien position. 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 and 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 an LCU deposit account is required to receive the stated APR. If automatic payment is cancelled or not established, APR will increase by.70%. The maximum rate is 18.00% and the floor rate is 3.50%. Draw period is ten years with an additional ten years to repay. An early termination fee of no more than $750 may be imposed to cover fees paid to third parties if the equity line is discharged within 24 months of the note date. Rate is subject to change after consummation. Offer only applies to owner-occupied primary residences.  Equity is determined by taking 80% of the property value and deducting the 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 is required. LCU members must maintain a $25 deposit relationship. All requests are subject to credit approval. Actual rate and margin offered may be adjusted based on credit history and other factors – this may result in a higher rate than our published rate.

****Annual percentage rate (APR) is variable and is adjusted monthly to the Wall Street Journal Prime Rate published on the last business day of each month plus 2.00%. Automatic payment from an LCU deposit account is required to receive the stated APR. If automatic payment is cancelled or not established, APR will increase by.70%. The maximum rate is 18.00% and the floor rate is 5.00% APR with a periodic rate of 0.01370%. Draw period is ten years with an additional ten years to repay. An early termination fee of no more than $750 may be imposed to cover fees paid to third parties if the equity line is discharged within 24 months of the note date. Rate is subject to change after consummation. All borrowers must meet the underwriting guidelines of the PMI Company. Offer only applies to owner-occupied primary residences. Equity is determined by taking 95% of the property value and deducting the 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. Property insurance is required. LCU members must maintain a $25 deposit relationship.