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Fixed Rate
- Rate is based on your credit history
- Rate is fixed for the term of the loan
- This is an open line of credit with a 2 year draw period
- Draw period may be extended depending on a review
- Payment is based on amount withdrawn
Range of balances / term
| up to $10,000 |
up to 60 month term |
| $10,001 - $20,000 |
up to 72 month term |
| $20,001 - 100,000 |
up to 84 month term |
Adjustable Rate
- Loan is established with intoductory rate for the first six (6) months. The rate is adjusted every January 1st and July1st. No adjustment is made if loan is booked within 90 days of the adjustment dates.
- A margin is added to the 1 year Treasury Note and then rounded up to the nearest 1/8%. This rate is applied only if it is more than the Credit Union's current floor rate.
- Rates can only adjust 2% up or down in a given year and no more than 6% over the life of the loan
- Up to 90% of the value of your home can be financed
Range of balances / term
| up to $10,000 |
up to 60 month term |
| $10,001 - $20,000 |
up to 96 month term |
| $20,001 - 30,000 |
up to 120 month term |
| $30,001 and above |
up to 180 month term |
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