The credit union will pay all closing fees associated with this loan.
The Credit union will pay all closing costs associated with this loan.3
If your payment is more than 10 days late we may charge you 5.0% of the payment or $10.00, whichever is greater.
You promise to pay all costs of collecting the amount you owe under this agreement.
1The "Index" is the weekly average yield on the Six Month Treasury Bill rate (auction high), as made available by the Federal Reserve Board.
2The VARIABLE ANNUAL PERCENTAGE RATE may change. It cannot increase more than 6.0 percentage points above the initial rate. Please ask a loan officer for details regarding how your rate is determined.
3If a full appraisal is required by the credit union, the borrower will be responsible for this fee, not to exceed $450.00. The no cost program is only available one time per member and not available when refinancing an existing credit union loan.
Representative Example: On a $10,000, 15 year loan with an initial interest rate of 3.99% in effect in July 2013, the maximum amount that the interest rate can rise under this program is 6 percentage point(s) to 9.99%, and the monthly payment can rise from a first year payment of $84.34 to a maximum of $105.41 in the third year.