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Loan Rates

Rates are accurate as of: November 1, 2014. Rates are subject to change without notice. Membership eligibility is required for all loans. A one-time $5 membership fee will apply for new members.

Why choose a Bangor Federal consumer loan?  Because we offer great low rates, flexible first payment dates, local service, and automatic payments from an account here or at another financial institution!


Vehicle Rates starting at…


 Loan Type
Term in Months
APR*
Pmt per $1000**

 New Autos (2011 and newer)



up to 36
1.99%
$28.64
37-48
2.49%
$21.91
49-60
3.49% $18.19
61-72
4.49% $15.87
73-84
5.99%
$14.61
 Used Autos (2006 – 2010)


up to 36
2.99% $29.08
37-48
3.49%
$22.36
49-60
4.49%
$18.65
61-72
5.49%
$16.34
 Used Autos (2005 and older) up to 36
5.99% $30.42

Motorcycle, Motor Homes, RVs & Other Secured

up to 60 3.99% $18.42
61 – 84 5.99% $14.61

85-120***
6.99%
$11.61


Click Here to Apply For a Consumer Loan Online!

*Annual Percentage Rate (APR) for the above mentioned loans will vary based on borrower's credit-worthiness and selected term. We use risk-based pricing to determine the interest rate. Please contact our loan department at 207-947-0374 for details.  Title and UCC fees will be charged when necessary.

**Monthly Payment per $1000 based on "as low as" rate and the maximum term available.

***85-120 month term requires a minimum loan amount of $30,000.


Other Loans – Rates starting at…


 Loan Type
Term in Months
APR*
Conditions
Pmt. Per $1000*
Lifestyle Loan (formerly Personal Loan)
up to 48
 6.95% $500 min. loan amt.
$50 min. payment.
$23.93
49-60
 7.95% $20.26
 61-72
 8.95% $18.01
Lifestyle – Line of Credit  (formerly Personal Line of Credit)
 N/A  6.75%  Variable Rate=
Prime + 3.5%***
Pmt. is $50/month or 2% of balance
Overdraft Line of Protection
N/A 12.00%

$500 min. line of credit

$2.50 per transfer fee

Variable Rate

Pmt. is $50/month
Share Secured Loan – 100%
up to 60
3.10% $500 min. loan amount
Min. pmt. $50/month
$50,000 max. loan amt.
Mobile Home
(in a park)**
up to 180
5.00%

Finance up to 80% of appraised value or purchase price.
Call for estimate of fees.
Property insurance & taxes are not included in Pmt. Per $1000.

$7.91
Land Loans up to 60
6.00%
75% of appraised value
$19.33
61-96
6.50%
2 points due at closing
$13.39
97-144
7.00%
Call for estimate of fees
$10.29

Click Here to Apply For a Consumer Loan Online!

*Annual Percentage Rate (APR) for the above mentioned loans will vary based on borrower's credit-worthiness and selected term. We use risk-based pricing to determine the interest rate. Please contact our loan department at 207-947-0374 for details. Title and UCC fees will be charged when necessary.  Monthly Payment per $1000 is based on “as low as” rate and the maximum term available.


**Property insurance required.  Property insurance and taxes are not included in the “Payment per $1000.”


***The rate is adjusted quarterly based on Prime as shown in the Wall Street Journal (the "Index"). Changes in your interest rate will be calculated using the Index figure available 45 days before each Change Date. This figure rounded to the nearest .25% plus the applicable margin will be your new APR* effective on the next Change Date. The prime rate was 3.25% as of August 18, 2014.


Home Equity Lines of Credit

 Loan Type
LTV**
Margin***
APR*
Minimum Payment****
  Home Equity Plus (Interest Only)
 80% +0%
3.25%
  Interest Only
 90% +1%
4.25%

Click Here For A Printable Home Equity Application!


*Annual Percentage Rate (APR). Maximum APR is 15.0%. The maximum increase or decrease on any Change Date will be 2%. Any increase or decrease not taken because of this 2% cap may be carried over to the next Change Date. Annual Percentage Rate may vary. Terms up to 180 months are available. Balloon payments do not apply to Home Equity Lines of Credit.  Property Insurance is required.  Property insurance and taxes are not included in the Minimum Payment amount.


** Loan to Value: Percentage of appraised value less 1st mortgage balance.


***The rate is adjusted quarterly based on Prime as shown in the Wall Street Journal (the "Index"). Changes in your interest rate will be calculated using the Index figure available 45 days before each Change Date. This figure rounded to the nearest .25% plus the applicable margin will be your new APR* effective on the next Change Date. The prime rate was 3.25% APR* as of August 18, 2014.


****Minimum Payment Requirements:  You can obtain credit advances for 3 years.  This period is called the “draw period.”  At our option, we may renew or extend the draw period.  After the draw period ends the repayment period will begin.  The length of the repayment period will be 12 years.  You will be required to make monthly payments during both the draw and repayment periods.  During the draw period your monthly payment will equal the finance charges (interest) that accrued on the outstanding balance during the preceding month.   Your payment will include any amounts past due and any amount by which you have exceeded your credit limit, and all other charges.  At the beginning of the repayment period, we will recalculate your payment.  Your payment will be set to repay the balance at the current annual percentage rate over 12 years.  Each time the annual percentage rate changes, we will adjust your payment to repay the balance within the original 12 years.  Your payment will include any amounts past due and any amount by which you have exceeded your credit limit and all other charges.  During the repayment period, your payment will never be less than the smaller of $50.00 or the full amount that you owe.


*****A one-time processing fee of $250 will be charged following pre-approval of your application for Home Equity Lines of Credit.  There are no other closing costs.


Fixed Rate Easy Equity Loan – Rates as low as…

 LTV** APR*
Term in Months
Payment per $1000***
   < or = 80%
 3.75% Up to 72
$15.53
 4.75%  73-144  $9.13
   80.01-90%  4.75%  Up to 72
 $15.99
 5.75%  73-144  $9.63
   90.01-100%  5.75%  Up to 72
 $16.46
 6.75%  73-144  $10.15

Click Here For A Printable Easy Equity Application!

*Annual Percentage Rate (APR) is based on the individual's credit-worthiness, the actual rate may vary. We use risk-based pricing to determine the interest rate. Call for an estimate of fees on all Easy Equity Loans. Property insurance is required.  Property insurance and taxes are not included in the “Payment per $1000.”


**Loan to Value: Percentage of appraised value less 1st mortgage balance.


***Monthly payment per $1000 based on maximum term and the lowest available rate, the actual payment per $1,000 may vary.  Property insurance and taxes are not included in the “Payment per $1000.”

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