Credit Union Loan Rates, Lower & Better

*APR = Annual Percentage Rate. Rates and terms subject to change without notice – the information provided does not constitute a loan commitment. All loans are subject to underwriting policy and guidelines, credit verification, and credit repayment history. Rates effective as of March 23, 2023.

Rates quoted are offered depending on the individual’s credit score. Qualifying factors include, but are not limited to, vehicle mileage, negative equity allowances, amount, and condition. TransUnion FICO Auto Enhance Score of 740 or above is required for LorMet’s lowest possible rate. Vehicles currently financed with LorMet are excluded from this offer. 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. All loans are subject to underwriting policy and guidelines, credit verification, and credit repayment history. Advertised rates and terms are subject to change without notice. Other rates and terms are available.

Loan payment example: For $25,000 borrowed at 7.88% APR for a term of 78 months, the monthly payment would be approximately $410.60. APR and payment may vary for other loan amounts and repayment terms. Calculate loan payment examples using our Loan Payment Calculator.

*APR = Annual Percentage Rate.

² Rates stated effective as of March 23, 2023. Rate and APR are variable and subject to credit approval. Rates quoted are offered depending on your credit score and range from 7.50% (Prime minus 0.50%, Floor Rate 2.99%) to 10.00% (Prime plus 2.00%). A TransUnion FICO Score of 740 or above is required for LorMet’s lowest possible rate. The maximum APR allowed by law is 18%. The Prime Rate is published in The Wall Street Journal. The Prime Rate as of March 23, 2023, is 8.00%. Borrow up to 80% of the property value, based on the applicant’s credit score. $50 Annual Fee to use and maintain a line of credit plan. Property and flood insurance required, if applicable. Program, rates, terms, and conditions are subject to change without notice. Not available for rental property, homes currently for sale, or intended to be sold within six months of closing.

³ Borrow up to 80% of the property value. Not available for rental property, homes currently for sale or intended to be sold within six months of closing. $100 loan documentation fee. Not all applicants will qualify for maximum term; restrictions and conditions may apply. A sample loan payment based on $50,000 at 8.03% APR for 15 years is $478.69.

*APR = Annual Percentage Rate.

² Owner occupied primary residence only. Any loan over $7,500 must be secured by a mortgage or deed of trust on the property. $100 loan documentation fee. Available to Lorain County residences only. Subject to review of project estimates and property inspection upon completion.

³ Not all applicants will qualify for the lowest APR or maximum term. Other rates and terms available. Maximum unsecured household debt limits apply. $195 loan documentation fee. For improvements on applicant’s primary residence only. Must be homeowner. Limit one per household. May be subject to review of project estimates.

*APR = Annual Percentage Rate.

² Rates quoted are offered depending on the individual’s credit score. Not all applicants will qualify for the lowest APR or maximum term. $49 loan documentation fee. Other rates and terms are available.

*APY = Annual Percentage Yield

¹ Everywhere Checking account is a Tiered Rate account and the minimum service requirement is: you complete at least 15 debit card purchases (excluding ATM transactions). If your average daily balance is $3,000.00 or below and you meet the minimum service requirement during the calendar month, the first Dividend Rate and APY listed for this account will apply. If your average daily balance is $3,000.01 to $5,000.00 and you meet the minimum service requirement, the second Dividend Rate and range of APYs listed for this account will apply. Each rate will apply only to that portion of the account balance within each balance range.

² If you do not meet the minimum service requirement during a calendar month, the third Dividend Rate and APY listed for this account will apply to the entire balance in the account, up to $5,000.00 and you will be charged a service fee as stated in the Fee Schedule.