Rates

Loans – Rates

As of July 24, 2017
Important Loan Notes: All Annual Percentage Rates (APRs) are subject to change at any time without prior notice. All APRs listed are with an automatic deduction from a Lowell Five account with the exception of Equity Lines of Credit and Now and Then Overdraft Protection. Higher APRs apply if the payment is not automatically deducted from an account with the Bank. For all equity loans, the Loan to Value (LTV) is calculated as follows (1st Mtg. + Equity Loan)/property value.

Fixed Rate Second Mortgages

  • Available from $10,000 to $200,000
  • LTV to 80%
  • Apply Online
Term APR Payment per $1,000
60 Months* 4.000%** $18.42
120 Months* 5.000%** $10.61
180 Months* 6.000%** $8.44

Maximum Term: 180 Months
$175.00 Recording Fee Applies. $72.00 AVM (Automated Valuation Model) Fee Applies.
Minimum Loan Amount: $10,000.00
* not available on loan secured by actual first mortgage positions.
** with automatic payment

Premier Equity Line of Credit

  • Loan amounts up to $1,000,000.00 on primary residence, $500,000.00 on owner occupied vacation home
  • LTV to 89.9% (based on underwriting criteria)
  •  Minimum Loan amount – $25,000.00 for first 6 months*
  •  A Lowell Five checking account with automatic payment and electronic statements is required for this APR*
  • Apply Online
Term APR
You choose 60,120,180 or 240 month draw period followed by 120 month repayment period 2.74% for 6 months. Variable rate of Prime minus 0.25% for life of loan.*

Payments of interest only during the draw period
Loan can be converted to a fixed interest rate and APR at any time during, or at the end, of the draw period for a fee of $250.00
$180.00 Recording Fee Applies.  $375 Appraisal fee for loan amount over $250,000.  $25.00 inactivity fee may apply if account is not used during any twelve month period

Current Wall St. Journal Prime Rate: 4.25%
All Equity Lines of Credit adjust monthly along with the Wall St. Journal Prime Rate
Maximum APR is 18% – Minimum APR is 3% and property insurance is required
Early termination fee of $350.00 if the Line of Credit is closed within the first 24 months

*APR becomes variable at Prime plus 1% for the life of the loan if you: 1) stop automatic payments from your Lowell Five checking account  2) elect to discontinue receiving your statements electronically or 3) fail to maintain the initial balance of $25,000.00 for the first 6 months.

Equity Line of Credit

  • Available from $10,000 to $200,000
  • LTV to 80%
  • Apply Online
Term APR
120 Month draw period followed by 120 month repayment period. Variable at the Prime Rate

Payments of interest only for first ten years
$180.00 Recording Fee Applies. $72.00 AVM (Automated Valuation Model) Fee Applies. $25.00 inactivity fee may apply if account is not used during any twelve month period.

Current Wall St. Journal Prime Rate: 4.25%
Minimum Loan Amount: $10,000.00
All Equity Lines of Credit adjust monthly along with the Wall St. Journal Prime Rate
Maximum APR is 18%.  Minimum APR is 3% and property insurance is required

New and Used Auto Loans

Term Rate APR Year of Vehicle/Payment per $1,000
36 Months 3.75% 3.78%** Year 2012-2016 Vehicles/$29.42
48 Months 4.25% 4.27%** Year 2012-2016 Vehicles/$22.70
60 Months 4.75% 4.77%** Year 2012-2016 Vehicles/$18.76
72 Months 5.25% 5.27%** Year 2015-2016 Vehicles/$16.23
36 Months 7.75% 7.78%** Year 2005-2011 Vehicles/$31.22

Up to 90% financing of selling price.
** with automatic payment

Personal Loans

APR Term Payment per $1000
Available from $500 to $25,000 11.75%** 12 Months $88.71
Maximum Term of 36 Months 12.75%** 24 Months $47.42
13.75%** 36 Months $34.06

** with automatic payment

“Now and Then” (overdraft protection) 

Loan Amounts APR
$500 – $3,000 18.00%

 

Motorcycle Loans

Term APR Year of Vehicle/Payment per $1,000
60 Months 10.25%** 2016/$26.46
48 Months 12.25%** 2011-2015/$32.76

Up to 80% financing of selling price to a maximum of $25,000
** with automatic payment

New Boat/Recreational Vehicle Loans

Term A.P.R. Payment per $1000
60 Months 12.25%** (used Boat and RV loans available at personal loan rates) $27.70

Up to 80% financing of selling price.
** with automatic payment