Loan Rates & Information

 

Loan Rates

Effective 01-01-2013.
Rates subject to change without prior notice.
Call for up to the minute details.
Loan Description Approximate
Term		 Preferred
APR
Savings Secured 100%
Apply Now 4 years 5.74%
Apply Now 5 years 6.24%
Apply Now 6 years 6.49%
Apply Now 7 years 6.74%
Certificate Secured 100%
Apply Now 6 years Index + 2.49%
Home Equity Fixed Rate***
Loan Amount
60-months
120-months
180-months
240-months
$10,000.00 - $24,999.99
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$25,000.00 - $49,999.99
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$50,000.00 - $99,999.99
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$100,000.00 +
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Application fee of $99 (non-refundable)
Car
3 years
2.74%**
4 years
3.24%**
5 years
3.74%**
Boat/RV 2005 and newer
  up to $29,999.99
 5 years 8.99 - 14.49%**
  over $30,000.00
 10 years 9.49 - 14.99%**
Motorcycle 2005 and newer
Apply Now 4 years 4.99 - 18.00%**
Check Credit Line
Apply Now 5 years 13.99%
Overdraft Loan
Apply Now 5 years 13.49%
All Other Secured & Unsecured Loans
Apply Now 3 years 10.74%**
Apply Now 5 years 10.99%**
Apply Now 6 years 11.24%**

** Based on Fair Isaac Score (Learn more about Fair Issac scoring)

*** All Home Equity Loans carry an appraisal fee of $100 that will be refunded at settlement closing.

 

Loan Information

Preferred Rate

A rate reduction of 1/2% will be given for any payment made by Payroll Deduction with Automatic Payment. If payroll deduction with automatic payment is discontinued, the APR will increase to the COUPON BOOK rate and any increase in the rate will result in more payments of the same amount until what you owe has been repaid. 

Share Certificate Secured

All Share Certificate Secured Loans are adjustable rate. The index is the APR of a Share Certificate being used as collateral. If there is more than one Share Certificate being used as collateral, then the index will be the average APR of the Share Certificates being used as collateral. The index and monthly payment is subject to change each time a Share Certificate matures.

Home Equity Loans

Secured by Mortgage (Fixed Rate): Up to 15 Years.

Secured by Mortgage (Adjustable Rate): This open line-of-credit is for 20 years. (The Prime Rate posted in The Wall Street Journal minus 0.25 for payroll deduction with automatic payment on the last business day of the month, if there is more than one rate the interest rate will be the average of all the posted rates). The interest rate is subject to change monthly.

First Mortgages: Call the office at 1-800-713-2274 and ask for Michael or press extension 110.

Administrative Requirements

  1. The minimum payment on Check Credit Line and Overdraft loans is $40.00 or 2.00% of the monthly balance, whichever is greater.
  2. All auto, RV, and Boats, or other types of Collateral Loans, must list the Credit Union as mortgage/lien holder on the insurance policy, with a deductible amount more than $500.00. If title is required as collateral, it must show an encumbrance in favor of New Jersey Community FCU. A signature loan can't be combined with a car loan. Title and insurance must be received before any other loans can be approved.
  3. A credit check and debt ratio analysis will be done on all loan applications (except 100% Shares and/or Certificate Secured) and advances. FHA lending standards will generally apply to all loans.
  4. The Credit Union will determine the Annual Percentage Rate (APR) for each advance based on approximate loan term and Fair Isaac score* received from the credit reporting agency currently used by the Credit Union. The member has the right to know which credit union reporting agency the Credit Union used.

 

*Learn more about Fair Issac scoring.