FIND THE RATE THAT FITS YOUR NEEDS
Rates
The following table shows how interest rates will be structured for Home Equity Loans and 1st Mortgage Rate Loans and Land Loans. Rates are based on 3 Year US Treasury on July 15th (or closest business day).
Rate Table
(Effective August 1, 2018)
Base Rate is 2.75% index with 2.75% margin
| SCORE | Rate Structure | Rate |
|---|---|---|
| A | Margin Rate 2.75% + 2.50% (0.25% discount) | 5.25% |
| B | Margin Rate 3.00% + 2.75% | 5.75% |
| C | Margin Rate 4.50% + 2.75% | 7.25% |
| D | Margin Rate 5.75% + 2.75% | 8.50% |
| E | Margin Rate 6.00% + 2.75% | 8.75% |
Floor will be 5.00% and ceiling on a 20 year is 10% and on a 30 year is 15%
80% Loan To Value Policy in place
15 years MAX term on Land Loans
15 years MAX term on Mobile homes and land (not converted to real estate)
Advances can be made up to half the term of mortgage
*Payment example: If you wanted a $50,000.00 home equity loan, for 20 years, with a credit score of an A, your interest rate would be 5.25%. Your payment would be 337.01 per month for 20 years. Payments do not include taxes and insurance premiums.
Grade of Paper Score
| SCORE | |
|---|---|
| A+ | 720+ |
| A | 680-720 |
| B | 640-679 |
| C | 600-639 |
| D | 555-599 |
| E | 554 and below |
Auto Loans
Click the toggles below to view rates tables.
New Auto Loans - Risk Based Lending
| SCORE | 36 Month APR | 48 Month APR | 60 Month APR | 72 Month APR | 84 Month APR |
|---|---|---|---|---|---|
| A+ | 3.00% | 3.25% | 3.50% | 4.00% | 6.50% $25,000 & UP |
| A | 3.00% | 3.25% | 3.50% | 4.00% | 6.50% $25,000 & UP |
| B | 3.25% | 3.50% | 3.75% | 4.25% | |
| C | 6.25% | 6.75% | 7.00% | 7.75% | |
| D | 10.50% | 11.00% | 11.500% | 12.75% | |
| E | 13.50% | 14.00% | 14.500% | 15.75% |
Used Auto Loans - Risk Based Lending
| SCORE | 36 Month APR | 48 Month APR | 60 Month APR | 72 Month APR | 84 Month APR |
|---|---|---|---|---|---|
| A+ | 3.25% | 3.50% | 3.75% | 4.25% | 6.50% $25,000 & UP 2010 & Newer |
| A | 3.50% | 3.75% | 4.50% | 5.00% | 6.50% APR $25,000 & UP 2010 & Newer |
| B | 4.50% | 4.75% | 5.00% | 6.00% | |
| C | 6.25% | 6.50% | 7.00% | 7.75% | |
| D | 11.50% | 12.50% | 13.00% | ||
| E | 14.25% | 14.75% | 15.50% |
Used Auto Loans - 2008 and Older - Risk Based Lending
| SCORE | 36 Month APR | 48 Month APR |
|---|---|---|
| Assigned C | 13.50% | 14.00% |
| D | 16.50% | 17.00% |
| E | 17.50% | 17.50% |
A+, A, B & C will finance 100% retail value
Assigned C, D & E will finance loan value only
Any Exceptions must be approved by CEO or Loan Manager
* Payment example: If you wanted a $10,000 new auto loan, for 48 months, with a credit score of an A, you would receive an interest rate of 3.00%. Your payment would be $221.35 for 48 months.
Signature Loan Rates
Risk Based Lending
| SCORE | 24 Month APR | 36 Month APR |
|---|---|---|
| A+ | 8.50% | 9.00% |
| A | 8.75% | 9.25% |
| B | 9.00% | 9.50% |
| C | 14.50% | |
| D | 17.50% | |
| E | 18.00% |
A & B up to $3000.00
C up to $2000.00
Assigned C $500
D & E $500
Any exceptions must by approved by CEO or Loan Manager
* Payment example: If you wanted a $3,000 loan, for 36 months, with a credit score of an A, you would receive an interest rate of 8.50%. Your payment would be $94.71 for 36 months.
Share Secured Loan Rate
3.25% for up to 72 months
Share Certificate Loan Rate
2.00% ABOVE CD RATE
Recreational Loans
Click the toggles below to view rates tables.
New Recreational Vehicle Loans - Risk Based Lending
| SCORE | 36 Month APR | 48 Month APR | 60 Month APR | 72 Month APR | *84-120 Month APR | *132-180 Month APR |
|---|---|---|---|---|---|---|
| A+ | 5.00% | 5.25% | 5.50% | 6.00% | 6.50% | 7.50% |
| A | 5.00% | 5.25% | 5.50% | 6.00% | 6.50% | 7.50% |
| B | 5.75% | 6.25% | 6.50% | 7.25% | 7.50% | 8.00% |
| C | 6.00% | 6.50% | 7.50% | 8.25% | 8.50% | 8.75% |
| D | 12.50% | 13.50% | 14.50% | 15.50% | 16.50% | 17.50% |
| E | 15.50% | 16.50% | 17.50% | 18.00% | 18.00% | 18.00% |
* Must be over $50,000 for 132-180 months
Used Recreational Vehicle Loans - Risk Based Lending
| SCORE | 36 Month APR | 48 Month APR | 60 Month APR | 72 Month APR | *84-120 Month APR | *132-144 Month APR |
|---|---|---|---|---|---|---|
| A+ | 5.25% | 5.50% | 5.75% | 6.25% | 6.75% | 7.75% |
| A | 5.25% | 5.50% | 5.75% | 6.25% | 6.75% | 7.75% |
| B | 6.00% | 6.50% | 6.75% | 7.50% | 7.75% | 8.50% |
| C | 7.00% | 7.25% | 7.50% | 8.50% | 8.75% | 9.00% |
| D | 15.50% | 16.50% | 17.50% | 18.00% | 18.00% | 18.00% |
| E | 17.25% | 18.00% | 18.00% | 18.00% | 18.00% | 18.00% |
Used Recreational Vehicle Loans 11 Years or Older (2005 and Older) - Risk Based Lending
| SCORE | 36 Month APR | 48 Month APR |
|---|---|---|
| Assigned C | 14.00% | 15.00% |
| D | 17.00% | 18.00% |
| E | 18.00% | 18.00% |
A+, A & B will finance 100% retail value
C, D & E will finance 80% of retail value
Any Exceptions must be approved by CEO or Loan Manager
* Payment example: If you wanted a $10,000 new recreational loan, for 48 months, with a credit score of an A, you would receive an interest rate of 4.50%. Your payment would be $228.04 for 48 months.
Mobile Home Loans
Click the toggles below to view rates tables.
New Mobile Home Loan
| SCORE | With Land 180 Month APR | Without Land 180 Month APR |
|---|---|---|
| A+ | 8.00% | 9.00% |
| A | 8.50% | 9.50% |
| B | 9.00% | 10.00% |
| C | 10.00% | 11.00% |
| D | 11.0% | 12.00% |
| E | 16.0% | 17.00% |
Now, you can finance a mobile home over $75,000 for 240 months!
2005 & Newer Mobile Home Loan
| SCORE | With Land 72 Months APR | Without Land 72 Months APR |
|---|---|---|
| A+ | 9.00% | 10.00% |
| A | 9.50% | 10.50% |
| B | 10.50% | 10.75% |
| C | 11.00% | 12.00% |
| D | 13.50% | 14.50% |
| E | 18.00% | 18.00% |
2004 or Older Mobile Home Loan
| SCORE | With Land 72 Months APR | Without Land 72 Months APR |
|---|---|---|
| A+ | 10.00% | 11.00% |
| A | 10.50% | 11.50% |
| B | 11.00% | 12.00% |
| C | 12.00% | 13.00% |
| D | 15.75% | 16.50% |
| E | 18.00% | 18.00% |
A+, A & B will finance 100% retail value
C, D & E will finance 80% of retail value
Any Exceptions must be approved by CEO or Loan Manager
* Payment example: If you wanted a $40,000 loan, for 180 months without land, with a credit score of an A, you would receive an interest rate of 8.75%. Your payment would be $399.88 for 180 months.
Savings Rates
Share Savings Account
| $25.00 to $7,500.99 | 0.10% | 0.10% Annual Percentage Yield |
| $7,501.00 to $10,000.99 | 0.20% | 0.20% Annual Percentage Yield |
| $10.001.00 to $20,000.99 | 0.30% | 0.30% Annual Percentage Yield |
| $20,001.00 to $50,000.99 | 0.35% | 0.35% Annual Percentage Yield |
| $50,001.00 to $100,000.99 | 0.50% | 0.50% Annual Percentage Yield |
| $100,001.00 and up | 0.55% | 0.55% Annual Percentage Yield |
Premium Share Savings Account
| $25.00 to $7,500.99 | 0.25% | 0.25% Annual Percentage Yield |
| $7,501.00 to $10,000.99 | 0.35% | 0.35% Annual Percentage Yield |
| $10,001.00 to $20,000.99 | 0.45% | 0.45% Annual Percentage Yield |
| $20,001.00 to $50,000.99 | 0.55% | 0.55% Annual Percentage Yield |
| $50,001.00 to $100,000.99 | 0.65% | 0.65% Annual Percentage Yield |
| $100,001.00 and up | 0.75% | 0.75% Annual Percentage Yield |
Premium Share Draft (Checking) Account
Kids Club Share Account
$25.00 and up | 0.50% Annual Percentage Yield
Vacation Club Share Account
No Minimum | 0.10% Annual Percentage Yield
Christmas Club Share Account
No Minimum | 0.10% Annual Percentage Yield
Traditional or Roth IRA Share Account
No Minimum | 1.00% Annual Percentage Yield
* All variable rate accounts are subject to change once account is opened. An early withdrawal penalty may be imposed on the Certificates of Deposit. There are no maintenance fees for share certificates. A dormant fee of $10.00 dollars will be imposed on the savings accounts with no activity for 24 months. Fees like this could reduce earnings on the account. There are no minimum balances on share savings accounts, $25 does go to your membership share which represents your ownership of Lake Chem. If you close your account, you get the $25 back.
NMLS# 509029
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