You can qualify for a loan today!
NEW AUTO LOAN RATES
| Credit Score | 60 Months | 72 Months |
|---|---|---|
| 750 and Above | 2.99% | 2.99% |
| 700-749 | 3.49% | 3.49% |
| 670-699 | 4.49% | 4.99% |
| 640-669 | 6.49% | 6.99% |
| 639 and Below | 9.49% | 9.99% |
| *Credit score 639 & below loans require dual approval by credit union officers. | ||
USED AUTO LOAN RATES
| Credit Score | 2014-2018 | 2009-2013 | 2008 and Older |
|---|---|---|---|
| 750 and Above | 3.49% | 3.99% | 4.49% |
| 700-749 | 3.99% | 4.49% | 4.99% |
| 670-699 | 5.49% | 5.99% | 6.49% |
| 640-669 | 7.49% | 7.99% | 8.49% |
| 639 and Below | 10.49% | 13.49% | 14.49% |
| *Credit score 639 & below loans require dual approval by credit union officers. | |||
NEW MOTORCYLYE/ATV/BOAT/CAMPER/RV
| Credit Score | 60 Months | 72 Months |
|---|---|---|
| 750 and Above | 5.00% | 5.50% |
| 700-749 | 5.50% | 6.00% |
| 670-699 | 7.50% | 8.00% |
| 640-669 | 9.50% | 10.00% |
| 639 and Below | 12.50% | 13.00% |
| **New Vehicles will lend up to 72 Months | ||
USED MOTORCYLYE/ATV/BOAT/CAMPER/RV
| Credit Score | 2014-2018 | 2009-2013 | 2008 and Older |
|---|---|---|---|
| 750 and Above | 5.50% | 6.50% | 7.00% |
| 700-749 | 6.00% | 7.00% | 7.50% |
| 670-699 | 8.00% | 8.50% | 9.50% |
| 640-669 | 10.00% | 10.50% | 12.50% |
| 639 and Below | 13.00% | 13.50% | 14.00% |
| *Members may borrow up to MSRP on new vehicles or 100% N.A.D.A. retail value for used vehicles. **Loans up to 72 months will be granted on new vehicles, 2018-2019 **Loans up to 60 months will be granted on used vehicles, 2014-2017 **Loans up to 48 months will be granted on used vehicles, 2009-2013 **Loans up to 36 months will be granted on used vehicles, 2008 and older **84 month loan terms will only be granted per the terms set forth in the policy manual *.50% will be added to any rate for loan terms greater than those listed above |
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UNSECURED LOAN RATES
| Credit Score | Line of Credit | Signature |
|---|---|---|
| 750 and Above | 9.00% | 9.00% |
| 700-749 | 10.00% | 10.00% |
| 670-699 | 11.00% | 11.00% |
| 640-669 | 12.00% | 12.00% |
| 639 and Below | 14.00% | 14.00% |
| Credit Score 639 & Below loan require dual approval by credit union officers. Interest rate to be determined upon approval and must fall within MBCU Policy. SHARE AND CD LOANS--3.00% OVER CURRENT RATE OVERDRAFT LOANS--12.00% .25% Rate Discount for each addition loan with MBCU (Minimum Rate 1.99%) |
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HOME EQUITY LOAN RATES
| Credit Score | Rate | Current Rate | Max HTLTV |
|---|---|---|---|
| 750 and Above | Prime plus 0.50% | 4.75% | 90.00% |
| 700-749 | Prime plus 1.00% | 5.25% | 85.00% |
| 670-699 | Prime plus 1.50% | 5.75% | 85.00% |
| 640-699 | Prime plus 2.00% | 6.25% | 80.00% |
| 639 and Below | ** | ** | ** |
| As of 3/4/2020 WSJ Prime Rate is 4.25% |
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| Rate is fixed for 5 years from open of HELOC. Rates adjusted quarterly thereafter. | |||
| Home must be borrower's primary residence. | |||
| Open End loan |
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| May be a first or second lien |
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| Prior Year County Appraisal or Certified Fannie Mae Appraisal dated within 1 year. | |||
| Rate cannot increase or decrease by more than 2% in any adjustment period |
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| MBCU reserves the right to charge a maximum interest rate of 18% |
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| Advances allowed 10 years |
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| Maximum repayment of 20 years |
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| Minimum LOC $1,000/ Maximum LOC $150,000 |
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| Over $150,000 board approval required |
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| $75.00 loan origination fee |
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| Title Report Letter required from title company |
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| Borrower responsible for all fees which include but not limited to: Appraisal (if needed), Title report, Recording fees, Credit Report, Origination Fee | |||
| Full title commitment and policy required on all loans over $50,000 | |||
| All loan rates are based on credit worthiness. These rates are subject to change at any time. Credit scores below 639 must be approved by the President and/or the Board of Directors. Interest and max HTL TV will be determined upon approval and must fall within approved MBCU policy. See loan officer for details and restrictions. | |||
