| Rates and Terms effective FEBRUARY 01, 2012
Fixed Rates and Terms available: (Annual Percentage Rate = APR)
PLEASE NOTE: The maximum loan amount available is $50,000 for these loans.
36-month financing as low as 4.50% APR (Payment = $30.00 per $1,000 borrowed)
60-month financing as low as 4.75% APR (Payment = $19.00 per $1,000 borrowed)
84-month financing as low as 5.00% APR (Payment = $15.00 per $1,000 borrowed)
120-month financing as low as 5.50% APR (Payment = $12.00 per $1,000 borrowed)
180-month financing as low as 5.75% APR (Payment = $9.00 per $1,000 borrowed)*
*180-month financing requires minimum $35,000 financed amount.
12 to 14 business days. These loans are simple interest loans with no pre-payment penalties.
HOW TO APPLY FOR THE LOAN
All information listed below is required and must be submitted at the same time. Applications are accepted at the Credit Union's main office on Whitesburg Drive, Athens Office, Sparkman Drive office, and our Madison Office. Please note that maximum loan amounts are $50,000 with a minimum new loan amount of $7,500.00;
1. Completed loan application signed by all applicants.
2. Copy of your property deed.
3. Copy of the latest tax assessment showing the tax appraised value.
4. Copy of your latest payroll stub of each applicant. If self-employed or if you have additional income other than your regular employment, you will need to furnish your last two years tax returns.
5. Pay required fee(s). There is a $125.00 Application Fee.
Proof of homeowners insurance showing North Alabama Educators Credit Union as the mortgage holder will be required at loan closing. Proof of flood insurance will be required if the property location is in a designated flood zone.
RATES AND LOAN AVAILABILITY ARE SUBJECT TO CHANGE WITHOUT NOTICE. LOANS ARE AVAILABLE FOR OWNER OCCUPIED PROPERTY ONLY. MEMBERS MUST MEET MORTGAGE QUALIFICATIONS FOR ALL LOANS.
For additional information please call 1-800-547-8172 (Main Office), 256-533-5389 (Main Office), 256-852-0408 (Sparkman Office), 256-232-3611 (Athens Office), or 256-722-5046 (Madison Office). NAECU - NMLS # 634521.
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