|
Automobile Loan Rates
|
Rate
|
APR*
|
Max Term Up To
|
|
New Auto
|
As Low As
|
2.991
|
72 mos.
|
Calculator** |
| Used Auto |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| New Motorcycle |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| Used Motorcycle |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| New Boat |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| Used Boat |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| New Personal Watercraft, Snowmobiles & ATVs |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| Used Personal Watercraft, Snowmobiles & ATVs |
As Low As
|
3.991
|
72 mos.
|
Calculator** |
| Other Loans |
|
|
|
|
| Signature Loan |
As Low As
|
7.251
|
48 mos.
|
Calculator** |
| Share Secured Loan |
4.99
|
4.99
|
60 mos.
|
Calculator** |
| Home Equity Loans |
|
|
|
|
|
Fixed Rate Home Equity Loan2 - All costs waived upon approval
|
5.50
|
5.50
|
15 years
|
Calculator** |
|
Home Equity Line of Credit2 - All costs waived upon approval
|
4.75
|
4.753
|
15 years
|
Calculator** |
|
FHA (No Equity) Home Improvement Loan
|
6.90
|
6.90
|
7 years
|
Calculator** |
* APR = Annual Percentage Rate. Rates stated effective as of February 1, 2012. Prime Rate as of February 1, 2012 is 3.25%. Rates and terms are subject to change without notice – information provided does not constitute a loan commitment. Call LorMet Community Federal Credit Union at 440-960-LOAN(5626) for more information.
1 LorMet is the top automobile financing credit union in Lorain County. We offer fast & convenient service and most of our credit decisions are rendered within one hour. APR is the Annual Percentage Rate. Rates quoted are offered depending on the individual's credit score. Key loan characteristics, including but not limited to amount, term, and vehicle characteristics are needed for maximum term financing. And, Trans Union FICO Auto Enhance Score of 740 or above is required for LorMet’s lowest possible rate on automobile loans. Vehicles currently financed with LorMet are excluded from this offering. The APR listed above is for in person direct member financing, which includes a loan documentation fee and maximum term financing. Indirect or on-site dealership financing offered by LorMet may have slightly higher APRs for new members. Not all applicants will qualify for the lowest APR or maximum term on automobile loans. All loans are subject to underwriting policy & guidelines, credit verification & credit repayment history. Advertised rates and terms are subject to change without notice. Other rates and terms are available.
2 Home Equity Loans – Line of Credit and Fixed. Borrow up to 80% of the property value. Closing costs are waived upon loan approval - limited time offer and subject to change without notice. Home Equity loans paid off and closed for any reason in less than 2 years from the loan origination date will require prepayment penalty of up to $150.00. Not available for rental property, homes currently for sale or intended to be sold within six months of closing. Not all applicants will qualify for maximum term; restrictions and conditions may apply.
3 Home Equity Line of Credit. Annual Percentage Rate (APR) may vary and is the Prime Rate, as published in the Money Rates column of the Wall Street Journal, minus .50%. The minimum APR that may be imposed is 4.75%; the maximum APR that may be imposed is 18%. The APR can change on the first day of each month and may not increase or decrease more than 3 percentage points in any one year period. A minimum balance of $2,000 must be maintained to avoid a $10.00 monthly fee (during draw period). $20 minimum advance fee if advance is less than $250.00. Late Charge of $15.00 for payments late ten days or more.
You may contact LorMet Community Federal Credit Union at
(440) 960-LOAN for further information.
|
Savings Rate
|
Dividend Rate
|
APY***
|
Term
|
Minimum Opening Balance
|
|
Regular Shares (Savings) / Holiday Shares
|
.10
|
.10
|
N/A
|
$5.00
|
***APY = Annual Percentage Yield. Rates stated are prospective dividend rates effective February 1, 2012. This account is a variable rate and the dividend rates and APYs may change after the account is open. You must maintain a minimum daily balance of $50.00 in your account each day to obtain the disclosed annual percentage yield. Fees could reduce earnings.
|
Term Share Certificates
|
Dividend Rate
|
APY****
|
Minimum Opening Balance
|
|
91 Days
|
.30
|
.30
|
$500.00
|
|
182 Days
|
.35
|
.35
|
$500.00
|
|
9 Months
|
.45
|
.45
|
$500.00
|
|
12 Months
|
.65
|
.65
|
$500.00
|
|
18 Months
|
.75
|
.75
|
$500.00
|
|
24 Months
|
.85
|
.85
|
$500.00
|
|
30 Months
|
1.00
|
1.00
|
$500.00
|
|
IRA Certificates (Traditional & Roth)
|
Dividend Rate
|
APY****
|
Minimum Opening Balance
|
|
Traditional 18 Months Variable
|
.65
|
.65
|
$25.00
|
|
Traditional 6 Months
|
.35
|
.35
|
$500.00
|
|
Traditional 18 Months
|
.75
|
.75
|
$500.00
|
|
Traditional 30 Months
|
1.00
|
1.00
|
$500.00
|
|
Roth 6 Months
|
.35
|
.35
|
$500.00
|
|
Roth 18 Months
|
.75
|
.87
|
$500.00
|
|
Roth 30 Months
|
1.00
|
1.00
|
$500.00
|
****APY= Annual Percentage Yield. Rates stated are prospective dividend rates effective February 1, 2012. These rates are subject to change. A penalty may be charged for early withdrawal.
You may contact LorMet Community Federal Credit Union at
(440) 960-6600 for Rate Updates.
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