Loan Rates
Receive a 0.25% discount off your qualifying consumer loan rate when your monthly loan payment is automatically transferred from your Midcoast FCU checking account. Discounted rate applies to new, consumer loans only, and applied at loan closing.
Consumer Loans - Autos, Motorcycles, Light Duty Trucks, Motor Homes and Recreational Boats
Effective Date: Tuesday, March 28, 2023
| APR* as low as | Term in Years | Monthly Payment per $1,000 | Minimum Loan Amount |
|---|---|---|---|
| 5.49% | 1 | $84.35 | $1,000 |
| 6.24% | 2 | $42.98 | $2,000 |
| 6.24% | 3 | $29.08 | $3,000 |
| 6.74% | 4 | $22.35 | $5,000 |
| 6.74% | 5 | $18.19 | $7,500 |
| 7.24% | 6 | $15.64 | $12,500 |
| 7.24% | 7 | $13.90 | $25,000 |
| Apply Now |
Interest rates above apply to loans secured by titled, non-commercial passenger vehicles both NEW and USED up to 10 model years old.
*Annual Percentage Rate (APR) is accurate as of January 1, 2023 and is subject to change without notice. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
Other Secured - Snowmobiles, Personal Watercrafts, ATVs, Campers and Travel Trailers
Effective Date: Tuesday, March 28, 2023
| APR* as low as | Term in Years | Monthly Payment per $1,000 | Minimum Loan Amount |
|---|---|---|---|
| 7.24% | 1 | $85.15 | $300 |
| 7.99% | 2 | $43.76 | $2,000 |
| 7.99% | 3 | $29.85 | $3,000 |
| 8.49% | 4 | $23.14 | $5,000 |
| 8.49% | 5 | $18.98 | $7,500 |
| 8.99% | 6 | $16.45 | $12,500 |
| 8.99% | 7 | $14.72 | $17,500 |
| Apply Now |
Interest rates above apply to loans secured by non-titled personal recreational collateral and other chattel.
Includes titled vehicles 11 to 15 model years old and recreational equipment up to 10 model years old.
*Annual Percentage Rate (APR) is accurate as of January 1, 2023 and is subject to change without notice. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
Personal Loans - Debt consolidation, vacation, energy assistance and more.
Effective Date: Tuesday, March 28, 2023
| APR* as low as | Term in Years | Monthly Payment per $1,000 | Minimum Loan Amount | Maximum Loan Amount |
|---|---|---|---|---|
| 10.74% | 1 | $87.22 | $300 | $25,000 |
| 11.49% | 2 | $45.79 | $1,500 | $25,000 |
| 11.49% | 3 | $31.91 | $2,000 | $25,000 |
| 11.99% | 4 | $25.24 | $2,500 | $25,000 |
| 11.99% | 5 | $21.12 | $5,000 | $25,000 |
| 12.49% | 6 | $18.65 | $15,000 | $25,000 |
| Apply Now |
*Annual Percentage Rate (APR) is accurate as of January 1, 2023 and is subject to change without notice. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
Personal Line of Credit - Overdraft protection, vacation, emergencies and more.
Effective Date: Tuesday, March 28, 2023
| LINE OF CREDIT | |
|---|---|
| Current APR* as low as | 12.75% |
| APR* | Variable |
| Index | Prime Rate as published in the Wall Street Journal |
| Margin as low as | 5.00% |
| APR* Adjustment Cycle | Monthly |
| Payment | Minimum payments greater of 2.5% of the balance or $50.00, whichever is greater |
| Minimum Line Amount | $500.00 |
| Maximum Line Amount | $25,000 |
| Minimum Transfer Amount | $100.00 |
*Annual Percentage Rate (APR) is variable and is based on the highest Prime Rate published each day in The Wall Street Journal Money Rates Table (the "Index"), plus a margin. The index as of the last change date of March 24, 2023 is 8.00%. Rates are subject to change without notice. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
Creditbuilder, Certificate and Share Secured Loans
Effective Date: Tuesday, March 28, 2023
| APR* as low as | Maximum Term** | Monthly Payment per $1,000 | Minimum Loan Amount | Maximum Loan Amount | |
|---|---|---|---|---|---|
| 3.05% | 120 Months | Term Dependent | N/A | N/A | Apply Now |
*Annual Percentage Rate (APR) is accurate as of January 2, 2022 and is subject to change without notice. Loan rate will be calculated at 3% over the dividend rate earned on deposit securing loan. Maximum term is 120 months. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
HeLOCK (Fixed Rate Home Equity Line of Credit)
Effective Date: Tuesday, March 28, 2023
| Maximum Combined Loan to Value | 80% | 90% |
|---|---|---|
| Current APR* as low as | 6.375% | 6.875% |
| Interest Rate | Fixed | Fixed |
| Draw Period | First 5 Years | First 5 Years |
| Repayment | Interest Only repayment required for the first 5 years followed by a 15 amortization | Interest Only repayment required for the first 5 years followed by a 15 amortization |
| Minimum Loan Amount | $20,000 | $20,000 |
| Property Type | Primary Residence and Second Homes | Primary Residence and Second Homes |
| Apply Now |
*Annual Percentage Rate (APR) is fixed and is accurate as of December 27, 2022. Rates are subject to change without notice. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
HELOC Advantage Plus (Variable Rate)
Effective Date: Tuesday, March 28, 2023
| Maximum Combined Loan to Value | 80% | 90% |
|---|---|---|
| Current APR* as low as | 8.00% | 8.50% |
| APR* | Variable | Variable |
| Index | Prime Rate as published in the Wall Street Journal | Prime Rate as published in the Wall Street Journal |
| Margin as low as | 0.00% | 0.50% |
| APR* Adjustment Cycle | Monthly | Monthly |
| Draw Period | First 10 Years | First 10 Years |
| Repayment | Interest Only repayment required for the first 10 years followed by a 20 amortization | Interest Only repayment required for the first 10 years followed by a 20 amortization |
| Minimum Loan Amount | $20,000 | $20,000 |
| Property Type | Primary Residence and Second Homes | Primary Residence and Second Homes |
| Apply Now |
*Annual Percentage Rate (APR) is variable and is based on the highest Prime Rate published each day in The Wall Street Journal Money Rates Table (the "Index"), plus a margin. The index as of the last change date of March 24, 2023 is 8.00%. Rates are subject to change without notice. Other rates and terms available for qualified borrowers. Actual interest rate may differ based on credit history. Subject to credit approval. Additional terms and conditions may apply.
