Loan Rates

Loan Rates - Effective Saturday, June 6, 2020
Loan TypeRates as low asTerms/Information
NEW AUTO & TRUCK2.340%2019-2020 Up to 60 months
Used Auto & Truck2.090%2010-2020 up to 48 Months
USED AUTO TRUCK2.340%2010-2020 Up to 60 months
USED AUTO TRUCK2.840%2010-2020 Up to 84 months $35K Minimum
Used Auto & Truck6.340%2010 & Older Up to 60 months
Motorcycles, Boats & Other Rec3.340%Motorcycles, Boats, MotorHomes & Other Rec. We loan for all!
Signature Loan6.840%Check out our low rates!
Lend A Hand Loan 15 Months5.000%First 90 Days Interest Only Payments!
Lend a Hand Loan 21 Months5.250%90 Days Interest Only Payments!
Home Equity Special1.990%Home Equity Line of Credit as low as 1.99% Until Jan 2021

Rates “as low as” are based on applicant’s credit history. APR=Annual Percentage Rate. Rate subject to change without notice.

Mortgage

Mortgage TypeTerm Interest RateOther Information
Mortgages-max $350,000
up to 30 year amortization
5 x 5 Adjustable Primary Residence"as low as" 2.750%No Discounts
Mortgages-max $350,000 up to 30 year amortization5 x 5 Adjustable- Cottage/Second Home"as low as" 2.950%No Discounts
Mortgages-max $350,00030 Year Fixed "as low as" 3.750%No Discounts
Mortgages-max $350,00020 Year Fixed "as low as" 3.650%No Discounts
Mortgage-max $350,00015 Year Fixed"as low as" 3.350%No Discounts
Mortgage-max $350,000Baby Boomer-10 Year Fixed "as low as" 3.150%No Discounts

Rates “as low as” are based on applicant’s credit history. APR=Annual Percentage Rate. Rate subject to change without notice. Credit Scores of 660 and Under Escrow required for all First Mortgage Products.    Lakes Community Credit Union’s NMLS ID #384197

 

 

 

Mortgage TypeTermRates
HELOC-up to 20 Year Amortization
10 Year Draw, 10 Year Repay. Quarterly Interest Adjustment. "as low as" 4.750% APR
Second Mortgage-Closed End-up to 20 Year Amortization 20 Year Fixed "as low as" 5.400% APR
HELOC Special
April 1st to June 30th
7 Year Draw, 8 Year Repay1.99% APR** (introductory rate until January 2021)

 

HELOC Disclosure: *Annual Percentage Rate (APR) is based on applicant’s credit history. The variable rate which is based on the Prime Rate as published in the Money Rates Section of The Wall Street Journal in effect on the last day of each calendar quarter of each year (“Index”).  Changes in the Index will cause changes in the Interest Rate on the first day of each calendar quarter of each year.  Increases or decreases in the Interest Rate will result in like increases or decreases in the Finance Charge and may affect the amount of your scheduled payments during the Draw and Repayments Periods.  The Annual Percentage Rate does not include costs other than interest.  Your Interest Rate cannot increase or decrease by more than 2.00 percentage points each year and will never be less than 4.00% nor greater than 18.00% and will apply to the remaining principal balance.  If the index becomes unavailable, We may select another Index and Margin which would result in a substantially similar Interest Rate.  Maximum LTV is 75%. Membership eligibility required.    Lakes Community Credit Union’s NMLS ID #384197

 

**APR = Annual Percentage Rate. The 1.99% introductory APR applies until January 1, 2021, and is limited to credit union members with newly-opened HELOCs during the promotional period
(April 1, 2020– June 30, 2020). Thereafter, a variable rate of 5.00% to 18.00% will apply, and is based on credit history, loan to value and other underwriting criteria. The variable APR is based on the index value (prime, currently 3.25%), plus a margin, subject to change, but at no time shall be less than 5.00% or exceed 18.00%. Applications must be submitted by June 30, 2020 to receive consideration for the introductory APR. The introductory rate cannot be combined with any other offer. Property insurance is required and, if applicable, flood insurance will be required. Additional restrictions, limitations, and exclusions may apply. Please contact Birmingham Bloomfield Credit Union for additional details. NMLS#500296. Lakes Community Credit Union a part of BBCU NMLS#384197.