Consumer Loan Rates



All rates effective July 1, 2008, 11:46am unless otherwise noted and are subject to change without notice.


Auto Loans
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
New Autos7210%7.900%7.900%$174.84
6010%6.750%6.750%$196.83
4810%6.750%6.750%$238.30
3610%6.750%6.750%$307.63
Used Auto (1-2 yrs old)6015%7.000%7.000%$198.01
4815%7.000%7.000%$239.46
Used Auto (3-4 yrs old)4820%7.250%7.250%$240.62
Used Auto (5-6 yrs old)3620%7.750%7.750%$312.21
Used Auto (7 yrs or more)2420%14.000%14.000%$480.13
    • All auto loans have a VSI Premium of $45.00
    • Downpayment requirements based on NADA value or purchase price, whichever is less
    • Payments are based on a $10,000 loan amount and maximum term, assuming you have already made the required downpayment
Boat Loans
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
New Boats12015%8.750%8.750%$125.33
Used Boats12020%9.250%9.250%$128.03
    • All boat loans have a VSI Premium of $45.00
    • Downpayment requirements based on NADA value or purchase price, whichever is less
    • Payments are based on a $10,000 loan amount and maximum term, assuming you have already made the required downpayment
Boat Slips
    • Initial rate is 7.50%
    • Rate is Prime + 1.5%
    • 3/3 Year ARM, maximum term 15 years
    • $350.00 Non-refundable application fee
    • $375.00 Document Preparation Fee
    • Maximum LTV 75% of purchase price or appraisal, whichever is less
    • Based on a $10,000, 15 year loan at 7.50% initial rate, the monthly payment would be $92.72 for the first 3 years and in subsequent years, based on the current prime rate. APR 7.537%.
    • APR includes a $375.00 Document Preparation Fee.
Collateral Loans
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment

  • Stock, Passbook and Certificate of Deposit

    • Other collateral loans are available upon request.

    Stock Secured

    • Prime + 3.00%, interest rate floor at 5%. Loan not to exceed 70% of stock value
    • Rate adjusted quarterly
    • Payment options: quarterly interest, monthly interest, monthly principal and interest, or time note

    Stock Secured: Charter Trust Stock/Investment Account

    • Stock – Must be listed on NYSE, American Stock Exchange or NASDAQ
    • Loan not to exceed 70% of stock value
    • Interest rate based on the current Prime Rate. Interest Rate varies depending on the loan amount
      • $50,000 or less, rate is Prime + 1%
      • $50,001 to $250,000, rate is Prime + .50%
      • $250,001 and greater, rate is Prime
    • There is an interest rate floor of 5%
    • Payment Options: Quarterly interest, Monthly interest, Monthly P & I, Time note option with all principal and interest due at maturity
    • Interest rate may adjust quarterly
    • $100 processing fee- can be added to loan amount or prepaid
    • 5% late charge after 10 days; flat fee of $50 for time loans
    • Discount to rate not available with this product

Condos - Campground
    • Initial rate 9.00%
    • $350.00 non-refundable application fee
    • $375.00 Document Preparation Fee
    • $25.00 Flood Certification Fee
    • Interest rate at prime + 3.00%
    • Interest rate adjusts on a 3/3 year ARM
    • Downpayment 30% of purchase price or appraisal, whichever is less 15 year maximum term
    • Caps on interest rate at 2.00% per anniversary and 6.00% lifetime Based on a $10,000, 15 year loan at 9.00% initial rate, the monthly payment would be $101.45 for the first 3 years and in subsequent years based on the current prime rate. APR 9.124%
    • APR includes a $375.00 Document Preparation Fee and $25.00 Flood Certification Fee
Home Equity Line
  • Rate
    • Highest Prime Rate APR
    • Current Prime Rate is 5.000%: Prime Rate subject to change


    Closing Costs
    • You may be required to pay for either a limited appraisal in the amount of $175 or a full appraisal in the amount $300.


    • Term
    • Up to 15 years


    Limits - Minimum Dollar Amount of $250,001 and Maximum of $1,000,000
    • We will lend you up to $89.9% of the current value of your home, minus any outstanding mortgages. You must receive an "Accept" underwriting decision. Your property must be a single-family owner-occupied home, and MVSB holds the first mortgage on the property.
    • If you do not meet these three guidelines, we will lend up to 80% of the current value of your home, minus any outstanding mortgages.


    Other Details
    • Annual fee: $50 per year waived for the first year.
    • Early payoff fee: $500 fee if loan is closed within three years from note date
    • There may be other charges for special requests.
    • You may be responsible for the cost of the appraisal. (Limited appraisal $175 - Full appraisal $300)
    • APR equals the highest Prime Rate, as quoted in the Wall Street Journal. The APR cap is variable and may adjust each month. This rate will never be less than 5% or exceed 21%
    • You must carry insurance on the property that secures this loan.
    • Rates may change based on our underwriting criteria.
Home Equity Lines and Loans
  • Home Equity Line with Special Introductory Rate
    Rate
    • 2.99% APR for the first three months
    • Prime Rate APR after the first three months. Current Prime Rate is 5.000%: Prime Subject to change


    Closing Costs
    • There are no closing costs if property value is determined using tax-assessed value for loan amounts of $100,000 or less.
    • For loan amounts above $100,000, you may be required to pay for either a limited appraisal in the amount of $175 or a full appraisal in the amount of $300.


    Term
    • Up to 15 years


    Limits
    • Minimum dollar amount of $20,000 and Maximum of $250,000
    • We will lend you up to 89.9% of the current value of your home, minus any outstanding mortgage(s), You must receive an "Accept" Underwriting decision. Your property must be a single-family owner-occupied home, and MVSB holds the first mortgage on the property. If you do not meet these three guidelines, we will lend up to 80% of the current value of your home, minus any outstanding mortgage(s).


    Initial Draw Requirement
    • $20,000, or $250 non-draw fee if draw of $20,000 is not taken at closing.


    • Other Details
    • Annual Fee: $50 per year, waived for the first year
    • Early Payoff Fee: $500 fee if loan is closed within three years from note date
    • Additional Fee: $250 non-draw fee if applicable
    • There may be other charges for special requests.
    • For loan amounts above $100,000, you may be responsible for the cost of the appraisal (limited appraisal $175 - full appraisal $300).
    • APR after the first three months equals the highest prime rate, as quoted in the Wall Street Journal. After the first three months, the APR is variable and may adjust each month. This rate will never be less than 5% or exceed 21%.
    • You must carry insurance on the property that secures this loan.



Home Equity Loan Pricing
  • Tiered Pricing: MVSB Customer with MVSB CHecking Account
    $10,000 - 14,9999 15,000 - 24,999 $25,000 and over
    APR Monthly Payment^ APR Monthly Payment^^ APR Monthly Payment^^^
    60 Months 8.00% $304.15 7.125% $496.52 7.00% $495.06
    120 Months 8.25% $184.00 7.375% $295.16 7.25% $293.55
    180 Months 8.500% $128.04 7.875% $237.17 7.625% $233.59
    Tiered Pricing: Non-MVSB Customer
    $10,000 - 14,9999 15,000 - 24,999 $25,000 and over
    APR Monthly Payment^ APR Monthly Payment^^ APR Monthly Payment^^^
    60 Months 8.00% $304.15 7.625% $502.45 7.500% $500.98
    120 Months 8.25% $184.00 7.875% $301.71 7.75% $300.03
    180 Months 8.500% $128.04 8.375% $244.41 8.125% $240.79
Home Improvement
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
Home Improvement60 9.500%9.500%$210.02
    • APR 9.00% with pre-authorized payments
    • Owner-occupied primary or vacation homes
    • No application fee
    • No points
    • Loan $1,000 to $10,000
    • 12 to 60 months
    • Written contracts for work being completed.
Energy Solution Loan
  • Loan Amount Rate Auto-Debit Rate
    $1,000 - $10,000 8.49% 7.99%
    $10,001 - $15,000 8.99% 8.49%

    • Owner occupied, primary and secondary residential property
    • Term – 12-60 months up to $10,000
    • Term – Up to 84 months if loan amount is $10,000 - $15,000
    • No Fees
    • Discount Rate - .50% rate discount with automatic payment from an MVSB statement account
Mobile Homes - (1976 and newer) in a park that are not on their own land
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
New Mobile Home - Doublewide24020%8.500%9.072%$86.78
New Mobile Home - Singlewide24020%9.000%9.584%$89.97
Used Mobile Home - Doublewide24020%9.500%10.095%$93.21
Used Mobile Home - Singlewide24020%9.750%10.352%$94.85
    • $350.00 non-refundable application fee
    • $375.00 document prep fee
    • $25.00 flood certificate
    • $45.00 VSI Premium
    • No origination fee
    • Title insurance is required for the mobile home only
    • Payment is calculated based on $10,000 loan amount and maximum term shown
    • The 0.50% discount for pre-authorized payments does not apply
    • Downpayment is based on the purchase price or appraisal, whichever is less
    • APR includes a $375.00 Document Preparation Fee and $25.00 Flood Certification Fee
Motorcycles, Snowmobiles, or Personal Water Craft
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
New Motorcycles, Snowmobile, or Personal Watercraft4825%10.500%10.500%$256.03
Used Motorcycle, Snowmobile, Personal Water Craft3625%11.000%11.000%$327.39
  • All Motorcycles, Snowmobiles, or Personal Water Craft loans have a VSI Premium of $45.00
Other Secured Installments
  • Commercial Equipment (such as dump truck, wood splitter, farm tractor)
    • 60 month maximum
    • Secured 9.00%
    • 80% LTV
    • Not available to DBA or commercial customers
    • Based on a $10,000, 60 month loan at 9%, the monthly payment would be $207.58 APR 8.999%

    All commercial loans have a VSI premium of $45 if applicable.
Park Campground Model Homes
  • New Park Model
    • Rate is based on the 1 year treasury note + 5.00%
    • Initial rate 7.25%
    • $375.00 Document Preparation Fee
    • $25.00 Flood Certification Fee
    • 3/3 ARM
    • Based on a $10,000, 15 year loan at 7.25%, the monthly payment would be $91.30 for the first 3 years and in subsequent years, based on the current treasury rate. APR 7.920%.
    • APR includes a $375.00 Document Preparation Fee and $25.00 Flood Certification Fee


    Used Park Model
    • Rate is based on the 1 year treasury note + 6.00%
    • Initial rate 8.25%
    • 3/3 ARM
    • Based on a $10,000, 15 year loan at 8.25% initial rate, the monthly payment would be $97.03 for the first 3 years and in subsequent years, based on the current treasury rate. APR 8.940%.
    • APR includes a $375.00 Document Preparation Fee and $25.00 Flood Certification Fee


    For all Park Model Homes
    • No application fee
    • No origination fee
    • VSI Premium of $45.00
    • 20% downpayment required
    • 15 year maximum term on a three year adjustable rate
    • 2.00% annual cap, 6.00% lifetime cap
    • A UCC search will be required on Used Park Models
Personal Unsecured
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
Personal Unsecured6014.000%14.000%$232.68
Recreational Vehicles - Motor Homes and Travel Trailers
Product NameMaximum TermDown-Payment RequiredRateAnnual Percentage Rate (APR)Monthly Payment
New Recreational Vehicle12020%9.000%9.000%$126.68
Used Recreational Vehicle - Up to 3 years old12020%9.500%9.500%$129.40
Used Recreational Vehicle - Older than 3 years12020%10.000%10.000%$132.15
  • All Recreational Vehicle loans have a VSI Premium of $45.00.
Time Notes
  • Product Name Rate Annual Percentage Rate (APR)
    Time Note 0 - 30 days 9.500% 9.500%
    Time Note 31-60 days 10.000% 10.000%
    Time Note 61-90+ days 10.500% 10.500%


    • Add one percentage point to rate at maturity unless we receive 10.00% reduction plus interest or put on amortization schedule.
    • The rate on secured time loans will be based on the collateral being pledged as security. Refer to the corresponding category.
    • The 0.50% discount for pre-authorized payments does not apply.
  • Unless otherwise noted, we offer 0.50% discount on all fixed rate installments with pre-authorized payments from a statement account with Meredith Village Savings Bank.
    Unless otherwise noted, rates and payments are based on a $10,000 loan amount and maximum term, assuming you have already made the required downpayment.
    # Rate is at a discount.
    ## Rate is at a premium.

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