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| 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% |
|
| Share Certificate and Certificate of Deposit (non-IRA) 100% | |||
| Apply Now |
6 years |
Index + 2.74% |
|
| Home Equity Fixed Rate*** (0 pts.) | |||
| Apply Now | 5 years |
||
| Apply Now | 7 years |
||
| Apply Now | 10 years |
||
| Apply Now | 15 years |
||
| Apply Now | 20 years |
||
| Car 2003 - 2010 | |||
2 years |
2.40%** |
||
3 years |
3.60%** |
||
4 years |
4.80%** |
||
5 years |
6.49%** |
||
6 years |
7.24%** |
||
7 years |
7.24%** |
||
| Stock Loan | |||
| Apply Now |
4 years |
7.24% - 16.99%** |
|
| Apply Now |
6 years |
7.74% - 17.49%** |
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| Boat/RV 2003 - 2010 | |||
|
up to $29,999.99 |
5 years |
8.74% - 18.00%** |
|
|
over $30,000.00 |
10 years |
8.99% - 18.00%** |
|
| Motorcycle 2003 - 2010 | |||
| Apply Now |
4 years |
8.74% - 18.00%** |
|
| Overdraft Loan | |||
| Apply Now |
5 years |
N/A |
|
| All Other Secured & Unsecured Loans | |||
| Apply Now |
3 years |
10.24%** |
|
| Apply Now |
5 years |
10.49%** |
|
| Apply Now |
6 years |
10.74%** |
|
| Check Credit Line | |||
| Apply Now |
5 years |
N/A |
|
*Preferred rate with automatic payment with payroll deduction.
** Rates quoted above are the lowest rates for qualified applicants. The above rates could be higher based on your Fair Isaac score that we receive from the credit bureau. (Learn more about Fair Issac scoring)
*** Fixed Rate loans with Loan to Value (LTV) of 80.01% or greater, add 0.25%. All Home Equity Loans carry an appraisal fee of $100 that will be refunded at settlement closing.
You will qualify for the Preferred Rate if you pay your loan by payroll deduction, EFT deposit of net pay, pension or Social Security with Automatic Transfer, otherwise your loan rate will increase by 0.50%.
Share Certificate and Certificate of Deposit in Garden State FCU (Non-IRA) Secured
All Share Certificate and Certificate of Deposit in Garden State FCU (Non-IRA) Secured Loans are adjustable rate. The index is the APR of a Share Certificate and Certificate of Deposit in Garden State FCU (Non-IRA) being used as collateral. The index and monthly payment is subject to change each time a Certificate matures. If more than one Share Certificate and Certificate of Deposit in Garden State FCU (Non-IRA) is put up as collateral, the index will be the average weighted rate of the Share Certificate and Certificate of Deposit in Garden State FCU (Non-IRA).
Home Equity Loans
Secured by Mortgage (Fixed Rate): Up to 20 Years.
Secured by Mortgage (Adjustable Rate): Is a open line-of-credit is for 10 years with a 15 year payback from your last advance. The interest rate is based on the Prime Rate published in The Wall Street Journal on the last business day of the month minus 0.25 for payroll deduction with automatic payment, if there is more than one rate publised, the interest rate will be the average of all the posted rates. For non-payroll deduction with automatic payment, your interest rate will be higher.The interest rate is subject to change monthly.
1st Mortgages
Garden State has teamed up with Atlantic/ Pacific Mortgage Company to offer 1st Mortgages to our members. The Atlantic/ Pacific Mortgage Company toll free number is 1-888-826-1977.
The following stocks can be used as collateral: AT&T, AT&T Wireless, Lucent Technology, Verizion, all Bell telephone companies and their divisions, PECO Energy, Conectiv, and PSE&G.
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 GARDEN STATE FCU. The Credit Corporate code for the New Jersey Motor Vehicle Commission (New Jersey MVC) is 38783 03380 80570. 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 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.
| Unsecured Loans |
Loan Limit |
| Overdraft Loan Maximum |
$10,000.00 |
| Check Credit Line Maximum |
$10,000.00 |
| Credit Cards |
$10,000.00 |
| One year of steady income from one source |
$1,500.00 |
| Two years of steady income from one source |
$3,000.00 |
| Three years of steady income form one source |
$6,000.00 |
| Four years of steady income from one source |
$10,000.00 |
| Six years of steady income from one source |
$11,000.00 |
| A Paper only (Fair Isaac score 680+) | |
| Overdraft line, Check Credit Line, and Credit Cards |
$12,000.00 |
| Seven years of income from a steady source |
$14,000.00 |
| Eight years of steady income from one source |
$16,000.00 |
| Secured Loan Limits | |
| Shares Secured 100% of your savings and/or certificate account (excluding IRAs) |
The Legal Limit |
| Car |
$60,000.00 |
| Boat/RV and Stocks |
$50,000.00 |
| Boat/RV(A Paper) |
$100,000.00 |
| Motorcycle |
$25,000.00 |
| Home Equity Loan |
$300,000.00 |
| 1st Mortgages through Atlantic/ Pacific Mortgage Company |
$500,000.00 |