You can qualify for a loan today!
NEW AUTO LOAN RATES
| Credit Score | 60 Months | 72 Months |
|---|---|---|
| 750 and Above | 2.24% | 2.24% |
| 700-749 | 2.74% | 2.74% |
| 670-699 | 3.74% | 4.24% |
| 640-669 | 5.74% | 6.24% |
| 639 and Below | 8.74% | 9.24% |
| *Credit score 639 & below loans require dual approval by credit union officers. | ||
USED AUTO LOAN RATES
| Credit Score | 2016-2020 | 2011-2015 | 2010 and Older |
|---|---|---|---|
| 750 and Above | 2.74% | 3.24% | 3.74% |
| 700-749 | 3.24% | 3.74% | 4.24% |
| 670-699 | 4.74% | 5.24% | 5.74% |
| 640-669 | 6.74% | 7.24% | 7.74% |
| 639 and Below | 9.74% | 12.74% | 13.74% |
| *Credit score 639 & below loans require dual approval by credit union officers. | |||
NEW MOTORCYCLE/ATV/BOAT/CAMPER/RV
| Credit Score | 60 Months | 72 Months |
|---|---|---|
| 750 and Above | 3.49% | 3.49% |
| 700-749 | 3.99% | 3.99% |
| 670-699 | 4.99% | 5.49% |
| 640-669 | 6.99% | 7.49% |
| 639 and Below | 9.99% | 10.49% |
| **New Vehicles will lend up to 72 Months | ||
USED MOTORCYCLE/ATV/BOAT/CAMPER/RV
| Credit Score | 2015-2019 | 2010-2014 | 2009 and Older |
|---|---|---|---|
| 750 and Above | 3.99% | 4.49% | 4.99% |
| 700-749 | 4.49% | 4.99% | 5.49% |
| 670-699 | 5.99% | 6.49% | 6.99% |
| 640-669 | 7.99% | 8.49% | 8.99% |
| 639 and Below | 10.99% | 13.99% | 14.99% |
Additional Loan Criteria:
Loans up to 84 months and 100% MSRP/NADA Retail value will be granted for vehicles, 2019-2021
Loans up to 72 months and NADA Retail value will be granted for vehicles, 2016-2018
Loans up to 60 months and NADA Trade value will be granted for vehicles, 2013-2015
Loans up to 48 months and NADA Trade value will be granted for vehicles, 2010-2012
Loans up to 36 months and NADA Wholesale value will be granted for vehicles, 2009 and older
.50% per year will be added to any rate for loan terms greater than those listed above
To qualify for an 84-month loan, you must be a Tier 1, 2, or 3 borrower with a loan <$40,000
UNSECURED LOAN RATES
| Credit Score | Line of Credit | Signature |
|---|---|---|
| 750 and Above | 9.00% | 9.00% |
| 700-749 | 10.00% | 10.00% |
| 670-699 | 12.00% | 12.00% |
| 640-669 | 13.00% | 13.00% |
| 639 and Below | 15.00% | 15.00% |
| 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% |
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HOME EQUITY LOAN RATES
| Credit Score | Rate | Current Rate | Max HTLTV |
|---|---|---|---|
| 750 and Above | Prime plus 0.50% | 3.75% | 90.00% |
| 700-749 | Prime plus 0.50% | 3.75% | 85.00% |
| 670-699 | Prime plus 0.50% | 3.75% | 85.00% |
| 640-699 | Prime plus 0.50% | 3.75% | 80.00% |
| 639 and Below | ** | ** | ** |
| As of 3/16/2020 WSJ Prime Rate is 3.25% |
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| This is a variable rate loan. Rates are adjusted quarterly. | |||
| Home must be borrower’s primary residence, unless approved by Board of Directors. | |||
| 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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| Loan has a 10-year draw period, and 20-year repayment period for a total of 30 years. |
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| Minimum LOC $1,000/ Maximum LOC $150,000. |
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| For loans 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 HTLTV will be determined upon approval and must fall within approved MBCU policy. See loan officer for details and restrictions. |
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