Loan Rates
Rates effective October 01, 2024. Rates are subject to change without notice.
Unsecured Loans
FICO | Minimum | Platinum | A | B | C | D | E | F | G |
|---|---|---|---|---|---|---|---|---|---|
1-5 Years | 1,000 | 6.990% | 7.990% | 8.990% | 9.990% | 10.990% | 11.990% | 12.990% | 13.990% |
Maximum Loan Amount = $30,000
*APR – Annual Percentage Rate. Example: Platinum grade, 36 month term at 6.99% APR will have an estimated monthly payment of $30.96 per $1,000.
Share of Certificate of Deposit Secured
Plus 3.00% to Share Rate or Certificate of Deposit Rate
Maximum Loan Amount is 90% of the Pledged Deposit Account Balance
Other Assets pledged as collateral are subject to personal unsecured rates noted above.
*APR – Annual Percentage Rate. Example: 48 month term at 3.10% APR will have an estimated monthly payment of $22.21 per $1,000.
Debt Consolidation Program - 48 month max term
Maximum | Platinum | A | B | C | D | E | F | G |
|---|---|---|---|---|---|---|---|---|
10,000 | 4.990% | 4.990% | 4.990% | 4.990% | 4.990% | 4.990% | 4.990% | 4.990% |
*APR – Annual Percentage Rate. Example: 48 month term at 4.990% APR will have an estimated monthly payment of $23.08 per $1,000.
Seasonal Special - 11 month term
Maximum | Platinum | A | B | C | D | E | F | G |
|---|---|---|---|---|---|---|---|---|
3,500 | 3.500% | 4.000% | 4.500% | 5.000% | 5.550% | 6.000% | 6.500% | 7.000% |
*APR – Annual Percentage Rate. Example: 11 month term at 3.50% APR will have an estimated monthly payment of $92.64 per $1,000.
Unsecured Home Improvement Loan
Minimum | Maximum | Maximum | Minimum | 680+ | Advances |
|---|---|---|---|---|---|
1,000 | 10,000 | 60 months | 40% | 5.99% | Completed to Contractor and member |
*APR – Annual Percentage Rate. Example: 60 month term at 5.99% APR will have an estimated monthly payment of $19.39 per $1,000.
Home Equity Line of Credit (HELOC)
Initial Draw Requirement: None
Maximum Line Amount: 250,000
Minimum Draw Amount: 1,000
HELOC 1 | Platinum 700+ | A | B 679-660 |
|---|---|---|---|
Prime +/- | 0.000% | 0.500% | 1.250% |
Floor | 4.50% | 4.50% | 4.50% |
Initial Rate (fixed 36 months) | 5.50% | 5.50% | 5.50% |
HELOC 2 | Platinum 700+ | A | B 679-660 |
|---|---|---|---|
Prime +/- | 0.000% | 0.500% | 1.250% |
Floor | 3.750% | 3.750% | 3.750% |
Initial Rate (fixed 6 months) | 2.99% | 2.99% | 2.99% |
No Closing Costs
Variable Rate Index: WSJ Prime Rate determined monthly on 1st Business day of month after fixed rate indicated above.
Appraisals: If an appraisal is required, cost is paid by borrower and determined by property type ($250 to $450). Maximum Loan Amount is $250,000 and Maximum Loan-to-Value is 80%.
Monthly Payments: Interest only with minimum of $100 required.
Payoff Period: Borrower may elect up to 15 years at end of 10 years draw period at revailing term and rate.
Qualifying Payment: 15 year prevailing fixed rate equity product at time of application.
Fixed Home Equity Loan Rates
Loan Term (up to) | Minimum Loan | Grade | Credit Score | APR* | Payment Per $1,000 |
|---|---|---|---|---|---|
Platinum | 700+ | ||||
Cell | Cell | Cell | Cell | ||
15 Years | $20,000 | 6.500% | $8.71 | ||
12 Years | $15,000 | 6.000% | $9.76 | ||
10 Years | $15,000 | 5.750% | $10.98 | ||
7 Years | $10,000 | 5.500% | $14.37 | ||
5 Years | $10,000 | 5.250% | $18.99 | ||
3 Years | $10,000 | 5.000% | $29.97 | ||
2 Years | $10,000 | 4.750% | $43.76 | ||
A | 680 to 699 | ||||
Cell | Cell | Cell | Cell | ||
15 Years | $20,000 | 7.000% | $8.99 | ||
12 Years | $15,000 | 6.500% | $10.02 | ||
10 Years | $15,000 | 6.250% | $11.23 | ||
7 Years | $10,000 | 6.000% | $14.61 | ||
5 Years | $10,000 | 5.750% | $19.22 | ||
3 Years | $10,000 | 5.500% | $30.20 | ||
2 Years | $10,000 | 5.250% | $43.98 | ||
B | 679 to 660 | ||||
Cell | Cell | Cell | Cell | ||
15 Years | $20,000 | 7.500% | $9.27 | ||
12 Years | $15,000 | 7.000% | $10.28 | ||
10 Years | $15,000 | 6.750% | $11.48 | ||
7 Years | $10,000 | 6.500% | $14.85 | ||
5 Years | $10,000 | 6.250% | $19.45 | ||
3 Years | $10,000 | 6.000% | $30.42 | ||
2 Years | $10,000 | 5.750% | $44.21 | ||
C | 659 to 640 | ||||
Cell | Cell | Cell | Cell | ||
15 Years | $20,000 | 8.000% | $9.56 | ||
12 Years | $15,000 | 7.500% | $10.55 | ||
10 Years | $15,000 | 7.250% | $11.74 | ||
7 Years | $10,000 | 7.000% | $15.09 | ||
5 Years | $10,000 | 6.750% | $19.68 | ||
3 Years | $10,000 | 6.500% | $30.65 | ||
2 Years | $10,000 | 6.250% | $44.43 | ||
D | 639 to 620 | ||||
Cell | Cell | Cell | Cell | ||
15 Years | $20,000 | 8.500% | $9.85 | ||
12 Years | $15,000 | 8.000% | $10.82 | ||
10 Years | $15,000 | 7.750% | $12.00 | ||
7 Years | $10,000 | 7.500% | $15.34 | ||
5 Years | $10,000 | 7.250% | $19.92 | ||
3 Years | $10,000 | 7.000% | $30.88 | ||
2 Years | $10,000 | 6.750% | $44.66 | ||
Minimum Loan amounts are required to qualify for the stated term selected.
*APR – Annual Percentage Rate
No Closing Costs
Appraisals: If an appraisal is required, cost is paid by borrower and determined by property type ($250 to $450).
Maximum Loan Amount is $250,000. and Maximum Loan-to-Value is 80%; Higher LTV Loans require Insurance Premium.
The rates noted above are for new consumer purpose loans of $10,000 or greater. Rates are subject to change without notice.
Offer is available on primary 1 to 4 family residence or condominiums which are owner-occupied (excludes cooperatives).
SouthCoast Federal Credit Union must be in a valid 1st or 2nd lien position on the collateral. Property insurance is required.
SouthCoast Federal Credit Union will advance closing costs on your behalf, excluding fees for recording
additional documents such as discharge fees if applicable.
If you close your account within one (1) year , we will add a recoupment fee of $400.00 which was advanced on your behalf
for your closing costs, to your outstanding balance for our reimbursement. Total recoupment charge of $400.00 is
subject to change.
New Automobile Loans
LTV MAX: | 100% | 100% | 90% | 80% | 70% | 60% | |
|---|---|---|---|---|---|---|---|
Rates are subject to change without notice | |||||||
FICO | Minimum | Platinum | A | B | C | D | E |
24 | 6,000 | 5.990% | 5.990% | 6.240% | 6.490% | 6.740% | 6.990% |
36 | 6,000 | 5.990% | 5.990% | 6.240% | 6.490% | 6.740% | 6.990% |
48 | 6,000 | 5.990% | 5.990% | 6.240% | 6.490% | 6.740% | 6.990% |
60 | 10,000 | 5.990% | 5.990% | 6.240% | 6.750% | 7.000% | 7.250% |
72 | 15,000 | 7.250% | 8.750% | 10.250% | N/A | N/A | N/A |
84 | 20,000 | 8.250% | 9.750% | N/A | N/A | N/A | N/A |
Maximum Loan Amount = $80,000
RATE AS LOW AS 6.25% APR*
*APR – Annual Percentage Rate. Example: 60 month term at 6.25% APR will have an estimated monthly payment of $19.55 per $1,000.
Used Automobile Loans
LTV MAX: | 100% | 100% | 90% | 80% | 70% | 60% | |
|---|---|---|---|---|---|---|---|
Rates are subject to change without notice | |||||||
FICO | Minimum | Platinum | A | B | C | D | E |
24 | 6,000 | 6.250% | 6.250% | 6.500% | 6.750% | 7.000% | 7.250% |
36 | 6,000 | 6.250% | 6.250% | 6.500% | 6.750% | 7.000% | 7.250% |
48 | 6,000 | 6.250% | 6.250% | 6.500% | 6.750% | 7.000% | 7.250% |
60 | 10,000 | 6.250% | 6.250% | 6.500% | 6.750% | 7.000% | 7.250% |
Maximum Loan Amount = $60,000.
Max Mileage: 80,000 miles
Current model year auto with less than 15,000 miles will be considered new and based on MSRP for financing.
All Self-employed borrowers require 2 year tax returns as proof of income (substitutions may be made by General Manager only).
POI required for B grade and lower and may be required for higher grade scores.
Effective November 1, 2021: VSI Insurance rate = $23.00
RATE AS LOW AS 6.25% APR*
*APR – Annual Percentage Rate. Example: 60 month term at 6.25% APR will have an estimated monthly payment of $19.55 per $1,000.
Boat/RV/Motorcycle Loans
Use above categories for New or Used and add 2.00% to pricing for additional risk associated with Recreational Vehicles.