Consumer Loan Rates
Consumer Unsecured Loans and Lines of Credit | Effective Date: March 17, 2023
| Loan Type | % Above Index | Minimum Loan Amount | Maximum Loan Amount | APR* |
|---|---|---|---|---|
| ValueChoice** | 5.00% - 9.00% | $500 | $40,000*** | 12.75% - 16.75%*** |
| Loan Type (Fixed Rate) | Term | Minimum Loan Amount | Maximum Loan Amount | APR* |
|---|---|---|---|---|
| Personal Loan* | 12 to 36 months | $1,000 | $40,000*** | 9.25% - 13.90%*** |
| Personal Loan* | 37 to 60 months | $1,000 | $40,000*** | 9.40% - 14.20%*** |
| Money Manager | Up to 48 months | $1,000 | $40,000*** | 9.20% - 13.75%*** |
| Go-Solar Loan | Up to 180 months | $45,000 | 8.10%*** | |
| Go-Solar Loan | Up to 240 months | $45,000 | 8.20%*** | |
| Total-Solar Loan | 180 months | $100,000 | 2.99%*** | |
| Total-Solar Loan | 240 months | $100,000 | 2.99% - 4.99%*** | |
| Total-Solar Loan | 300 months | $100,000 | 2.99% - 7.99%*** |
Apply Now Financial Calculators
Prime Rate Loan Index: 7.50%
* APR = Annual Percentage Rate
** An established Line of Credit. ValueChoice rate tied to Prime Rate Loan Index. Maximum annual percentage rate not to exceed 21.00%
*** To qualified barrowers. Rate based on credit worthiness
Membership is required with a one-time non-refundable $5 fee.
Auto Loan Rates
Consumer Auto Loans | Effective Date: March 17, 2023
| Terms for Fixed Auto Loans | New Auto Loans (APR* as low as) | Used Auto Loans (APR* as low as) |
|---|---|---|
| 12 - 24 Months | 6.29%*** | 6.34%*** |
| 25 - 36 Months | 6.29%*** | 6.39%*** |
| 37 - 48 Months | 6.29%*** | 6.39%*** |
| 49 - 60 Months | 6.39%*** | 6.44%*** |
| 61 - 72 Months | 6.49%*** | 6.60%*** |
| 73 - 84 Months | 6.59%*** | 6.79%*** |
| 85 - 96 Months** | 7.29%*** | N/A |
Apply Now! Calculate Your Auto Loan Payment Auto Buying ToolsNeed Auto Insurance?
Minimum Loan Amount: $5,000.
* APR = Annual Percentage Rate
*** Rates, terms and conditions of loan will be based on individual credit worthiness. Current rates reflect promotional rate.
Membership is required with a one-time non-refundable $5 fee.
Apply Now Calculate Your HELOC Payment
Home Equity Line of Credit
Home Equity Line of Credit - Variable Rate (Tied to Prime Index) | Effective Date: March 17, 2023
| Property Type | FICO* | Max CLTV | Max Line Amount | Margin | APR** | Max APR |
|---|---|---|---|---|---|---|
| Primary Residence | 680 & above | 75% | $399,999 | 0.25% | 8.00% | 18% |
| 679 & below | 65% | $399,999 | .50%-1.00% | 8.25% - 8.75% | 18% | |
| Vacation/2nd Home | 680 & above | 70% | $399,999 | 0.25% | 8.00% | 18% |
| 679 & below | 65% | $399,999 | .50%-1.00% | 8.25% - 8.75% | 18% | |
| Investment Property | 680 & above | 65% | $399,999 | 0.75% | 8.50% | 18% |
| 679 & below | 65% | $399,999 | 1.00%-1.50% | 8.75% - 9.25% | 18% |
High LTV Home Equity Line of Credit - Variable Rate (Tied to Prime Index) | Effective Date: March 17, 2023
| Property Type | FICO* | Max CLTV | Max Line Amount | Margin | APR** | Max APR |
|---|---|---|---|---|---|---|
| Primary Residence | 720 & above | 80% | $250,000 | 1.50% | 9.25% | 18% |
| 680-719 | 80% | $250,000 | 1.75% | 9.50% | 18% |
Prime Rate Loan Index: 7.75%
Minimum Line Amount = $10,000
Interest Only Payment
Origination fees ranging from $300 to $2,100.
Membership is required with a one-time non-refundable $5 fee.
Jumbo HELOC
Merit Jumbo Home Equity Line of Credit - Variable Rate (Tied to Prime Index) | Effective Date: March 17, 2023
| Property Type | FICO* | Max CLTV | Max Line Amount | Margin | APR** | Max APR |
|---|---|---|---|---|---|---|
| Primary Residence | 720 & above | 65% | $400,000 - $1,000,000 | 0.50% | 8.25% | 18% |
| 680-719 | 55% | $400,000 - $750,000 | 0.50% | 8.25% | 18% | |
| 679-640 | 55% | $400,000 - $750,000 | 0.75% | 8.50% | 18% |
Prime Rate Loan Index: 7.75%
Fee Schedule
Minimum Line Amount = $400,000
Interest Only Payment .
Origination fees ranging from $1,200 to $3,000.
Secured by Second Deed of Trust.
Membership is required with a one-time non-refundable $5 fee.
5 Year Fixed Rate HELOC
5 Year Fixed Rate Equity Line of Credit - Fixed Rate | Effective Date: March 17, 2023
| Property Type Initial Rate |
FICO* | Max CLTV | Max Line Amount | Margin | APR** | Max APR |
|---|---|---|---|---|---|---|
| Primary Residence | 680 & above | 75% | $399,999 | 0.50% | 8.25% | 18% |
| 679 & below | 65% | $399,999 | 0.50% | 8.25% | 18% | |
| Vacation/2nd Home | 680 & above | 70% | $399,999 | 0.50% | 8.25% | 18% |
| 679 & below | 65% | $399,999 | 0.50% | 8.25% | 18% | |
| Investment Property | 680 & above | 65% | $399,999 | 1.00% | 8.75% | 18% |
| 679 & below | 65% | $399,999 | 1.00% | 8.75% | 18% |
Prime Rate Loan Index: 7.75%
Minimum Line Amount = $10,000
Rate is fixed for 5 years. $250 initial processing fee. No Annual fees. After the first 5 years rate will adjust annually. Margin after first five years. for FICO score above 680 is 0.0%, for FICO score 640 – 679 is 0.50%,for FICO score below 639 is 0.75%. Additional 0.50% Margin for investment property.
Terms and Conditions - Five Year Fixed (PDF)
Membership is required with a one-time non-refundable $5 fee.
Jumbo 5 Year Fixed Rate HELOC
Merit Jumbo Home Equity Line of Credit- Fixed Rate | Effective Date: March 17, 2023
| Property Type | FICO* | Max CLTV | Max Line Amount | Margin | APR** | Max APR |
|---|---|---|---|---|---|---|
| Primary Residence | 720 & above | 65% | $400,000 - $1,000,000 | 0.50% | 8.25% | 18% |
| 640-719 | 55% | $400,000 - $750,000 | 0.50% | 8.25% | 18% |
Prime Rate Loan Index: 7.75%
Fee Schedule
Minimum Line Amount = $400,000
Rate is fixed for 5 years. $250 initial processing fee. No Annual fees. After the first 5 years rate will adjust annually. Margin after first five years for FICO score above 680 is 0.0%, for FICO score 640 – 679 is 0.50%.
Terms and Conditions - Five Year Fixed (PDF)
Membership is required with a one-time non-refundable $5 fee.
Promotional Intro Rate HELOC Apply Now Calculate Your HELOC Payment
*Home Equity Loans and Lines of Credit – Terms and Conditions:
Secured by first or second deed of trust Collateral property cannot exceed 3 Acres Minimum Requirements Applicant must be a member in good standing with this Credit Union Loans require a minimum monthly payment of at least $50.00
Additional Terms and Conditions - Home Equity Lines of Credit:
Draw is 10 years
Maximum repayment is 180 months
$50.00 annual fee
Additional Terms and Conditions
2nd / Vacation Homes:
Maximum LTV 70%. Maximum loan amount is $399,999. The 2nd / vacation home must be a single unit dwelling (duplexes and apartments are not allowed). The owner must occupy the home for some portion of the year. The property should be located a minimum of 25 miles away from the owner’s primary residence.
Investment Property:
Investment property listed rate + 0.50%. Maximum LTV 65%. Maximum loan amount is $399,999. An Investment property must be a 1 or 2 unit property. The owner (not a management firm) must have exclusive control over the occupancy status at all times.
FICO is derived from Experian model FICO 8
**The Index (Interest Rate) is the Prime Rate currently quoted in the Money Rates Section of The Wall Street Journal in effect on the third Tuesday of the preceding month. The Interest Rate Index will never fall below 3.50%. Your Interest Rate will be based on Meriwest Credit Union’s Credit Decision Support Guideline. Please contact the Credit Union to determine for which rate you qualify. The preceding information was accurate as of the printing date of February 01, 2021, and subject to change after that date. For changes since printing, call us at (800) 750-3775. Equal Housing Lender – Loans made without regard to color, religion, sex or national origin. The Interest Rate is subject to change monthly.
Home Equity Loans
Community Advantage - Home Equity Loan (Fixed Rate) | Effective Date: March 17, 2023
| Property Type | FICO 8* | MAX CLTV | Maximum Amount Financed | Term | APR* (as low as) |
|---|---|---|---|---|---|
|
Primary Residence |
680 & above | 75.00% | Up to $399,999 | 10 years | 6.30% |
| 679 - 640 | 65.00% | Up to $399,999 | 10 years | 6.40% | |
| 639-620 | 65.00% | Up to $399,999 | 10 years | 6.55% | |
| 619 & below | 65.00% | Up to $399,999 | 10 years | 6.80% | |
| 680 & above | 75.00% | Up to $399,999 | 15 years | 6.40% | |
| 679 - 640 | 65.00% | Up to $399,999 | 15 years | 6.50% | |
| 639-620 | 65.00% | Up to $399,999 | 15 years | 6.80% | |
| 619 & below | 65.00% | Up to $399,999 | 15 years | 6.90% | |
| 680 & above | 75.00% | Up to $399,999 | 20 years | 6.60% | |
| 679 - 640 | 65.00% | Up to $399,999 | 20 years | 6.70% | |
| 639-620 | 65.00% | Up to $399,999 | 20 years | 6.85% | |
| 619 & below | 65.00% | Up to $399,999 | 20 years | 7.10% |
Apply Now Use our Home Equity Calculators
Minimum $10,000 Loan Amount.
Secured by second deed of trust only (cannot be 1st lien). Collateral Property cannot exceed 3 acres.
Properties located in Special Flood Hazard Area (SFHA) as identified by Federal Emergency Management Agency (FEMA) do not qualify for this loan.
No third party fees.
* APR = Annual Percentage Rate
** The payments listed are for informational purpose only. The actual payments are based on the amount borrowed, loan term and rate. Other options may be available, call 1-877-MERIWEST for details.
*** Maximum loan to value for secondary residence is 70%. Maximum Loan to Value for Investment Property is 65%.
Membership is required with a one-time non-refundable $5 fee.