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Consumer Loan Rates

Consumer Unsecured Loans and Lines of Credit | Effective Date: April 1, 2021

Loan Type   % Above Index     Minimum Loan Amount     Maximum Loan Amount     APR*    
ValueChoice** 5.00% - 9.00% $500 $25,000 8.25% - 12.25%***

 

Loan Type (Fixed Rate)     Term Minimum Loan Amount     Maximum Loan Amount     APR*
Personal Loan* Up to 60 months     $1,000 $25,000 7.95% - 12.00%***
Money Manager Up to 48 months  $1,000 $25,000 7.85% - 11.75%***
Solar Loan  120 months    $15,000 5.75%***
Solar Loan 180 months   $20,000 6.00%***
Solar Loan 240 months   $25,000 6.25%***

Apply Online Now Financial Calculators


Prime Rate Loan Index: 3.25%

Fee Schedule

* 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%

*** Rate based on credit worthiness

Auto Loan Rates

Consumer Auto Loans | Effective Date: April 1, 2021

Terms for Fixed Auto Loans     New Auto Loans (APR* as low as)     Used Auto Loans (APR* as low as)
01 - 24 Months 2.79%***      2.99%***   
25 - 36 Months 2.99%***     3.24%***
37 - 48 Months 3.29%***  3.39%***
49 - 60 Months 3.49%***     3.69%***
61 - 72 Months 3.79%***     3.99%***
73 - 84 Months 3.99%***  4.29%***
85 - 96 Months** 5.29%***  N/A

We also offer a special Eco-Auto Loan rate for qualified cars, call 877-637-4937 to learn more!1


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Fee Schedule

Minimum Loan Amount: $5,000.

* APR = Annual Percentage Rate 

** 72-month financing available for loans exceeding $15,000. Optional extension of 3 additional months is for terms up to 72 months. 84-month financing available for loans exceeding $20,000. 96-month financing available for "new" vehicle purchase loans exceeding $30,000.  0.25% rate discount available for Full Electric and Hybrid Plug in's. 0.25% rate discount available for 80% LTV. Discounts cannot combined.

*** Rates, terms and conditions of loan will be based on individual credit worthiness. Current rates reflect promotional rate. 

1: The Meriwest Eco-Auto Loan is available for the purchase of new vehicles on the California Department of Motor Vehicles’ Official List of Qualifying Vehicles for Clean Air Vehicle Decals which can be found here: https://www.arb.ca.gov/msprog/carpool/carpool.htm. Vehicle must be new (current year) or newer with less than 1,000 miles. Offer only valid for AA or A Tier borrowers. Rate effective as of March 18, 2020, see our New Auto 37-48 month rate. Loan amounts of at least $30,000 to qualify for advertised rate. Loan amounts less than $30,000 will receive a 0.25% higher rate. Fixed rate over your choice of term of 48, 60, 72 or 84 months only. Rates, terms and conditions of the loan will be based on individual credit worthiness. Individual payments may vary depending upon rate, amount and term. For example: Monthly payment of $679.41 based on a $30,000 loan amount for 48 months at 3.99% APR. Offer subject to change or end without notice. Other restrictions apply. Please contact the credit union for more details. Membership is required with a one-time non-refundable $5 fee.

Home Equity Line of Credit

Home Equity Line of Credit - Variable Rate (Tied to Prime Index) | Effective Date: April 1, 2021

PROPERTY TYPE FICO* MAX CLTV MAX LINE AMOUNT MARGIN APR** MAX APR
Primary Residence 680 & above 80% $399,999 0.25% 3.50% 18%
679 & below 70% $399,999 .50%-1.00% 3.75%-4.25% 18%
Vacation/2nd Home 680 & above 75% $250,000 0.25% 3.50% 18%
679 & below 70% $250,000 .50%-1.00% 3.75%-4.25% 18%
Investment Property 680 & above 70% $250,000 0.75% 4.00% 18%
679 & below 70% $250,000 1.00%-1.50% 4.25%-4.75% 18%

 

High LTV Home Equity Line of Credit - Variable Rate (Tied to Prime Index) | Effective Date: April 1, 2021

PROPERTY TYPE FICO* MAX CLTV MAX LINE AMOUNT MARGIN APR** MAX APR
Primary Residence 720 & above 85% $250,000 1.50% 4.75% 18%
680-719 85%   $250,000 1.75% 5.00% 18%

See Current Promotional Rates >>


Apply Online Now Calculate Your HELOC Payment See Current HELOC Promotion


Prime Rate Loan Index: 3.25%

Fee Schedule

Minimum Line Amount = $10,000

Interest Only Payment

Origination fees ranging from $300 to $1,800. 

Terms and Conditions (PDF)


Jumbo HELOC

Merit Jumbo Home Equity Line of Credit | Effective Date: April 1, 2021

PROPERTY TYPE FICO* MAX CLTV MAX LINE AMOUNT MARGIN APR** MAX APR
Primary Residence 720 & above 70% $400,000-$1,000,000 0.50% 3.75% 18%
680-719 60%   $400,000-$750,000 0.50% 3.75% 18%
679-640 60% $400,000-$750,000 0.75% 4.00% 18%

Prime Rate Loan Index: 3.25%

Minimum LIne Amount = $400,000

Interest Only Payment 

Origination fees ranging from $1,200 to $2,500. 

Secured by Second Deed of Trust

Terms and Conditions (PDF)


PROPERTY TYPE FICO* MAX CLTV MAX LINE AMOUNT LOAN TERM INTEREST RATE
Primary Residence 680 & above 80% $399,999 10 years 4.50%
679-640 70%   $399,999 10 years 4.75%
639-620 70%   $399,999 10 years 5.00%
619 & below 70%   $399,999 10 years 5.50%
  LOAN TERM INTEREST RATE
680 & above 80% $399,999 15 years 4.75%
679-640 70%   $399,999 15 years 5.00%
639-620 70%   $399,999 15 years 5.25%
619 & below 70%   $399,999 15 years 5.75%
  LOAN TERM INTEREST RATE
680 & above 80% $399,999 15 years 5.25%
679-640 70%   $399,999 15 years 5.50%
639-620 70%   $399,999 15 years 5.75%
619 & below 70%   $399,999 15 years 6.00%

Prime Rate Loan Index: 3.25%

Minimum LIne Amount = $10,000

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 product

The payments listed are for information purpose only. The actual payments are based on the amount borrowed, loan tern and rate.

Maximum Loan to Value for Secondary Residence is 75%

Terms and Conditions (PDF)


*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 and Investment property:
Maximum LTV 75%. Maximum loan amount is $250,000. Investment property listed rate + .50% The owner (not a management firm) must have exclusive control over the occupancy status at all times. 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.

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 September 01, 2020, 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: April 1, 2021

Primary Residence***

Maximum Amount Financed Term Maximum Loan to Value APR*
(as low as)
Monthly Payment**
Up to $399,999 10 years 80.00% 4.00%    $101.25
Up to $399,999 15 years 80.00% 4.75% $104.85
Up to $399,999 20 years 80.00% 5.25% $107.30

 

Investment Property 

Maximum Amount Financed Term Maximum Loan to Value APR*
(as low as)

Monthly Payment**
per %10,000 borrowed

Up to $250,000 10 years 70.00% 4.50%    $103.64
Up to $250,000 15 years 70.00% 5.25% $107.30
Up to $250,000 20 years 70.00% 5.75% $109.77

Apply Online Now     Use our Home Equity Calculators   

Fee Schedule

Properties located in Special Flood Hazard Area (SFHA) as identified by Federal Emergency Management Agency (FEMA) do not qualify for this loan

Minimum $10,000 Loan Amount

Secured by second deed of trust only (cannot be 1st lien). Collateral Property cannot exceed 3 acres.

No third party fees.

* APR = Annual Percentage Rate 

** Monthly payment per $10,000 borrowed. 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 75%