Mortgage Rates
MHVFCU
offers members many types of real estate loans including: first
and second mortgages, home equity loans and lines of credit, and
Equity Edge loans that accommodate members with good credit but
low or no equity in their home; for purchase or refinancing; fixed
and variable rates; conforming (up to $417,000) and jumbo (up to
$1,000,000) loans; balloons and fully-amortized loans. The rates
and points below are for conforming loan amounts of $417,000 or
less. All first mortgage APRs advertised are based on a loan amount
of $100,000. Additional loans, terms and points are available. Please call MHVFCU at 800-451-8373, Ext.
3472 for more information. |
|
Type |
Term |
Rate** |
Points |
APR* |
Cost / $1000
per month |
Notes |
|
Fixed
Rate Mortgages |
|
30-Year |
30 Years |
6.250% |
0 |
6.252% |
$6.16 |
|
|
15-Year |
15 Years |
5.750% |
0 |
5.752%
|
$8.37 |
|
|
Adjustable
Rate Mortgages |
|
1-Year ARM |
30 Years |
4.750% |
0 |
4.178% |
$5.29 |
Adjusts annually with a 2% annual and 6% lifetime cap |
|
3-Year ARM |
30 Years |
5.000% |
0 |
4.329% |
$5.44 |
Rate fixed for 3 years, then adjusts annually with a 2% annual
and 6% lifetime cap |
|
5-Year ARM |
30 Years |
5.250% |
0 |
4.620% |
$5.52 |
Rate fixed for 5 years, then adjusts annually with a 2% annual
and 5% lifetime cap |
|
Special
Mortgage Programs |
|
SONYMA |
30 Years |
6.500% |
0 |
6.500% |
$6.32 |
1.00 points |
|
|
FHA
and VA mortgages are also available. Please call for current
rates. |
|
|
|
Home
Equity Loans & Line of Credit |
|
Type |
Term |
Rate** |
|
APR* |
Notes |
|
Fixed Rate Loans |
Up to 5 Years |
5.500% |
0 |
5.500% |
A typical fixed rate loan of $50,000 at 6.750% APR would have 180 monthly payments of $442.45 with total repayment of $79,641.00. You should consult a tax advisor regarding the deductibility of interest and any other charges.
|
|
|
Up to 10 Years |
6.250% |
0 |
6.250% |
| |
Up
to 15 years |
6.750% |
0 |
6.750% |
| |
Up
to 20 years |
7.250% |
0 |
7.250% |
|
Line of Credit |
5 or
10 Year Draw with
15 Years to Repay
|
Up to $175,000 |
2.99% for first
6 months,
then Prime-.25% ***
|
0 |
2.99% for first
6 months,
then Prime-.25% *** |
No application fee or closing costs on lines up to $125,000.You should consult a tax advisor regarding the deductibility of interest and any other charges.
|
|
5
or 10 Year Draw with
15 Years to Repay |
$175,001 to $250,000 |
Prime+.75%***
|
0 |
Prime+.75% *** |
|
5
or 10 Year Draw with
15 Years to Repay |
$250,001 to $300,000 |
Prime+1.25%*** |
0 |
Prime+1.25%*** |
Equity Edge Loan
For
borrowers with good credit and
no/low equity in their home. |
1-3 Years |
7.250%** |
0 |
7.250%** |
A typical fixed rate loan of $15,000 at 7.500% APR would have 60 monthly payments of $300.57 with total repayment of $18,034.16. You should consult a tax advisor regarding the deductibility of interest and any other charges. |
| |
4-5 Years |
7.500%** |
0 |
7.500%** |
| |
6-10 Years |
7.875%** |
0 |
7.875%** |
|
*Annual
Percentage Rate
**Rates effective as of 11/18/08. Rates are subject to change without prior notice and apply to 1 or 2 family, owner-occupied residences. Actual interest rates and APR’s may vary based on credit history and other loan characteristics. Your rate may vary.
***Home Equity Line of Credit rates are variable. Rates are
indexed to the Prime Rate published in the Wall Street Journal
the third Friday of February, May, August and November, 1)
less .25% for lines less than $175,000, 2) plus .75% for lines
of $175,001 to $250,000 and 3) plus 1.25% for lines of $250,001
to $300,000, and take effect the first day of the following
quarter, subject to a maximum change of +/- 3% and a maximum
APR of 15%. Prime Rate is 5.00% as of 5/1/08.
|
|
|
Consumer Loan Rates
New/Used Automobiles
& Motorcycle Loans
|
Auto/Motorcycle Loan Payment Examples |
APR |
Term in Months |
Monthly Payment
per $1000 Borrowed |
5.00% |
36 |
$29.97 |
| |
New Vehicles |
Used Vehicles |
5.50% |
36 |
$30.20 |
| Up to 36 Months |
As low as 5.00% APR* |
As low as
5.50% APR* |
5.00% |
60 |
$18.87 |
37-60 Months |
As low as
5.00% APR* |
As low as
5.50% APR* |
5.50% |
60 |
$19.10 |
6.00% |
72 |
$16.58 |
61-72 Months |
As low as 6.00% APR* |
As low as
6.25% APR* |
6.25% |
72 |
$16.70 |
| *APR
= Annual Percentage Rate. Rates
effective 11/18/08. All rates as low as: Rates
are based on credit ratings, term of loan and in some
cases year of vehicle. Rates reflect a 1/4% discount
for automatic payments on fixed rate loans. Your rate
may vary.Rates are subject to change. |
Secured Loans
New/Used Boats, New/Used Recreational Vehicles
and New/Used
Motor Homes
|
Secured Loan Payment Examples |
APR |
Term in Months |
Monthly Payment
per $1000 Borrowed |
8.50% |
36 |
$31.56 |
| Up to 36 Months |
As low as 8.50%** |
9.00% |
60 |
$20.76 |
Up to 60 Months |
As low as 9.00%** |
|
|
|
| ** Rates effective 11/1/08 .
Rates are based on credit
ratings and term of loan. Your rate may vary.Rates are subject to change. Additional terms availbale. |
Energy Loan
Borrow up to $5,000 for a full season's fuel costs.
|
Energy Loan Payment Example |
APR |
Term in Months |
Monthly Payment
per $1000 Borrowed |
| 12 Months |
5.50% |
5.50% |
12 |
$85.85 |
| ** Rate effective 11/1/08 .
Rates are subject to change. |
Unsecured Loans
|
Unsecured Loan Payment Examples |
APR |
Term in Months |
Monthly Payment
per $1000 Borrowed |
10.50% |
36 |
$32.50 |
| Up to 36 Months |
As low as 10.50%** |
11.25% |
48 |
$25.96 |
Up to 60 Months |
As low as 11.25%** |
11.25% |
60 |
$21.87 |
| ** Rates effective 11/1/08 .
Rates are based on credit
ratings and term of loan. Your rate may vary.Rates are subject to change. |
Visa Credit Card Rates
|
Savings Rates† |
|
Type |
Annual Percentage Yield (APY)* |
Balance to Earn APY |
Minimum to Open Account |
Dividend
Rate* |
|
Savings Account |
.75% |
$100 |
$5 |
.74% |
|
IRA Savings Account |
.75% |
$100 |
$5 |
.74% |
|
Choice Checking |
.25% |
$100 |
$15 |
.24% |
|
Money Management Account |
1.10% |
$1,000 |
$1,000 |
1.09% |
| Premier Money Market |
1.15% |
$2,500 |
$2,500 |
1.14% |
| |
1.30% |
$10,000 |
$2,500 |
1.29% |
| |
1.45% |
$25,000 |
$2,500 |
1.44% |
| |
1.55% |
$50,000 |
$2,500 |
1.54% |
| |
2.05% |
$100,000 |
$2,500 |
2.03% |
| |
2.20% |
$200,000 |
$2,500 |
2.18% |
| |
2.35% |
$300,000 |
$2,500 |
2.32% |
| |
2.45% |
$400,000 |
$2,500 |
2.42% |
|
2.70% |
$400,000 |
$2,500 |
2.67% |
| $25,000 Money Market* |
2.50% |
$25,000 |
$25,000 |
2.47% |
| $100,000 Money Market* |
3.15% |
$100,000 |
$100,000 |
3.10% |
| $300,000 Money Market* |
3.50% |
$300,000 |
$300,000 |
3.44% |
†Any Annual Percentage Yield (APY) provided in this disclosure assumes dividends will remain on deposit for at least one year. A withdrawal and/or fees will reduce earnings. Dividends are compounded and credited monthly. Fixed rates are in effect for 30 days from the effective date disclosed above. A 30 day advance notice will be provided for a change in rates on a fixed rate account. Rates for variable rate accounts are in effect through the end of each month. Rates are determined at the discretion of the Board of Directors of the Credit Union. The dividend rates and the APY's disclosed are prospective. Dividends are paid from current income and available earnings. These rates are accurate for accounts as of the date indicated above. Rates are determined monthly. You may contact the credit union at 845-336-4444 or 800-451-8373, extension 6000, for current rate information. See your account disclosures for additional information about your account. Rates effective 11/12/08.
* Limited time offer. Rates may vary. If average monthly balance falls below the minimum stated the APY will be 1.00%. Fees could reduce earnings on this account. A low balance fee of $10 will be assessed if the average monthly balance is below the minimum required. Introductory APY through 12/31/2008. As of 1/1/2009 rates will be indexed to our Premier Money Market Account a the same levels, plus 25 basis points. |
| |
|
Certificates†† |
|
|
Type |
Annual Percentage Yield (APY)* |
Balance to Earn APY |
Minimum to Open Account |
Dividend
Rate* |
|
1 Month Certificate |
1.35% |
$500 |
$500 |
1.34% |
|
3 Month Certificate |
2.50% |
$500 |
$500 |
2.47% |
|
6 Month Certificate |
2.70% |
$500 |
$500 |
2.66% |
|
9 Month Certificate |
2.75% |
$500 |
$500 |
2.71% |
|
12 Month Certificate |
2.85% |
$500 |
$500 |
2.81% |
|
18 Month Certificate |
3.00% |
$500 |
$500 |
2.95% |
|
18
Month Certificate - Adjustable |
3.00% |
$500 |
$500 |
2.95% |
|
24 Month Certificate |
3.20% |
$500 |
$500 |
3.15% |
|
30 Month Certificate |
3.20% |
$500 |
$500 |
3.15% |
|
3 Year Certificate |
3.40% |
$500 |
$500 |
3.34% |
|
4 Year Certificate |
3.45% |
$500 |
$500 |
3.39% |
|
5 Year Certificate |
3.75% |
$500 |
$500 |
3.68% |
|
6 Month Jumbo Certificate |
2.85% |
$100,000 |
$100,000 |
2.81% |
|
12 Month Jumbo Certificate |
3.01% |
$100,000 |
$100,000 |
2.96% |
|
12 Month VIP Certificate - Variable |
3.11% |
$25,000 |
$25,000 |
3.06% |
IRA
Certificates†† |
|
|
Type |
Annual Percentage Yield (APY)* |
Balance to Earn APY |
Minimum to Open Account |
Dividend
Rate* |
|
9 Month
IRA Certificate |
2.85% |
$500 |
$500 |
2.81% |
|
12 Month
IRA Certificate - Variable |
2.95% |
$100 |
$100 |
2.91% |
|
12 Month
IRA Certificate |
2.95% |
$100 |
$100 |
2.91% |
18
Month
IRA Certificate - Variable |
3.10% |
$100 |
$100 |
3.05% |
|
18
Month
IRA Certificate |
3.10% |
$100 |
$100 |
3.05% |
|
24 Month
IRA Certificate |
3.30% |
$100 |
$100 |
3.25% |
|
30 Month
IRA Certificate |
3.30% |
$100 |
$100 |
3.25% |
|
30 Month
IRA Certificate - Variable |
3.30% |
$100 |
$100 |
3.25% |
|
3
Year
IRA Certificate |
3.50% |
$100 |
$100 |
3.44% |
|
4 Year
IRA Certificate |
3.55% |
$100 |
$100 |
3.49% |
|
5 Year
IRA Certificate |
3.85% |
$100 |
$100 |
3.78% |
|
12 Month VIP
IRA Certificate - Variable |
3.11% |
$25,000 |
$25,000
|
3.06% |
††Any Annual Percentage Yield (APY) provided in this disclosure assumes dividends will remain on deposit until maturity or for at least one year for accounts with terms. A withdrawal will reduce earnings. A substantial penalty will be assessed for early withdrawal. Dividends are compounded daily and credited monthly. Fixed rates for accounts with specific maturities are in effect until maturity. Rates for variable rate accounts are in effect through the end of each month. Rates are determined at the discretion of the Board of Directors of the Credit Union. Dividends are paid from current income and available earnings. These rates are accurate for accounts as of the date indicated above. Rates are determined weekly for time accounts. You may contact the credit union at 845-336-4444 or 800-451-8373, extension 6000, for current rate information. See your account disclosures for additional information about your account. Rates effective 11/12/08.
|
