Loan Rates

 

Not for Profit ... Not for Charity ... But for Service

Car, Truck  & Motorcycle Loans

Term

24 Months

36 Months

48 Months

60 Months

72 Months

84 Months

Floor Rate

1.50%

1.70%

1.80%

1.90%

2.90%

3.90%

Age of Collateral

1. Add 1.0% to above rates on model years 2010 – 2012
2. Add 1.5% to above rates on model years 2008 – 2009
3. Add 2.0% to above rates on model years 2007 and older
4. Actual rate may be affected by applicant's credit score, according to the credit union's tiered-rate loan policy. And is not to be lower than the “Floor” rate.

Minimum qualifications for 72 & 84 month financing are: Members must have 1) have a credit score of 640 or more 2) at least 3 years on the job, to obtain a loan automobile with a 72 or 84 month maturity. Minimum loan amount is $25,000.00 or more.  The credit bureau score, time on the job, and minimum balance restrictions can be waived by the loan officer if the member makes a down payment on the car of 25% or more (not to include any rebates) if, in their judgment, those factors are mitigated thereby.

 

Fixed Rate Second Mortgages

3.75%

60 to 84 Months

4.75%

84 - 108 Months

4.75%

108 - 180 Months


Other Real Estate

Home Equity  Line of Credit

 Prime Minus 0.25% (the rate is higher with lower credit scores)

Mortgage Loan Fees: Appraisal, at least $250, Flood Cert. $15, Lien Search $75, Open End Mortgage $151, Mortgage Loan Document Fee $100. Total Estimate = $591.

A 10 year re-write is required on all first and second mortgage loans with an amortization greater than 10 years.

** Home Improvement Loans may either be Unsecured or Real Estate Secured



Other Loan Rates

Secured by Shares

2.50% above the share rate. Maximum maturity is 60 Months.

Secured by Certificate

2.50% above the share rate. Maximum maturity is 60 Months. Certificate continues to roll.

Signature Loan

5.90% - 24 Month Max Maturity
6.90% - 36 Month Max Maturity
7.90% - 48-60 Month Max Maturity
Maximum Combined Unsecured Loan: $50,000.00

Tuition Loans

3.00% $500 - $10,000 Falls Catholic Credit Union will make tuition loans to the parents of the students of parochial schools in Summit County, Ohio. The proceeds check must be made out to the school

As low as 5.9% (Your rate could be higher based on your Credit Bureau Score).
NO ANNUAL FEE

The trade area for Auto Loans is the State of Ohio. Falls Catholic Credit Union does not presently finance recreational vehicles, boats, farm equipment, lawn mower tractors or livestock.  All loans include a late charge after 10 days of the greater of 5% of the payment or $5. Loan rates are tiered according to individual credit qualifications.

This loan rate schedule was approved by the Board of Directors 8/29/2013 and will become effective on 9/1/2013.

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