Loans
Whether you are buying an auto, a home, fixing up an existing home, consolidating debt, or simply building [or rebuilding] credit, we have flexible borrowing options designed to meet your financial goals.
Loan Rates
Rates effective as of March 22, 2023
Our current loan rates in Maine are competitive; therefore, our members can take advantage of lower monthly payments.
All loan rates shown below are “as low as” annual percentage rates and are subject to change without notice. Actual interest rates may be determined by credit score. Interest rates on all variable-rate loans may increase after origination. Membership eligibility is required. Some restrictions may apply.
Auto/Recreational/Secured Loans (Non-Real Estate)
Whether you want to purchase a car, boat, motorcycle, recreational vehicle, or just trying to save money by refinancing with us, we have lending options for you.
Looking for your next vehicle? Visit our auto shopping center
| Term** | APR* | Monthly Payment Per $1,000 Borrowed |
|---|---|---|
| Up to 36 months | As low as 6.99% | $30.87 |
| Up to 48 months | As low as 6.99% | $23.94 |
| Up to 60 months | As low as 6.99% | $19.80 |
| Up to 72 months1 | As low as 7.49% | $17.29 |
| Up to 84 months2 | As low as 8.49% | $15.83 |
| Up to 120 months3 | As low as 9.99% | $13.21 |
| * Annual Percentage Rate (will vary based on the borrower’s credit score and selected term) ** Up to 100% financing available; NADA or MSRP 1. 72-month term is for loans $15,000 or greater 2. 84-month term is for loans $25,000 or greater 3. 120-month term is for boat/recreational vehicle loans $25,000 or greater. [84 & 120-month terms are limited to borrowers with A, B or C credit scores] |
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Share Secured Loans
Borrow against your own share savings account, which is one of the lowest loan rates we offer.
| Term | APR* | Monthly Payment Per $1,000 Borrowed** |
|---|---|---|
| Up to 120 months | *3.00%+ Dividend Rate | $ VARIES |
| * Annual Percentage Rate ** APR and cost per $1,000 dependent on the rate and term of the term of the shares used to secure the loan. Certain restrictions may apply. |
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Certificate Secured Loans
Borrow against your certificate at a low lending rate.
| Term | APR* | Monthly Payment Per $1,000 Borrowed** |
|---|---|---|
| Not to exceed term on Share Certificate | *3.00%+ Dividend Rate | $ VARIES |
| * Annual Percentage Rate is 3.00% + over Annual Percentage Yield of Share Certificate. ** APR and cost per $1,000 dependent on the rate and term of the term certificate used to secure the loan. Certain restrictions may apply. |
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Personal/Signature Loans
We offer personal/signature loans used for whatever you may need.
| Term | APR* | Monthly Payment Per $1,000 Borrowed |
|---|---|---|
| Up to 60 months | As low as 11.99% | $22.24 |
| *Annual Percentage Rate (will vary based on the borrower’s credit score and selected term) Maximum loan amount is $20,000. Certain restrictions may apply. |
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FICO Fit Loan (Credit Builder or Re-Builder)
We believe it is never too early or too late to begin building or rebuilding credit. The FICO Fit Loan is designed to do just that to help you establish your credit and develop good savings habits so that in the future, you can qualify for traditional loans!
| APR* | Term | Monthly Payment | Maximum Loan Amount |
|---|---|---|---|
| 9.25% | Up to 12 Months | $43.78 | $500 |
| * Annual Percentage Rate | |||
Line of Credit (Variable Rate)
A line of credit allows members to borrow money when they need it and for the amount they need—without having to apply for a loan each time they need to borrow money.
| Term | Variable APR* | Maximum Variable Rate | Minimum Monthly Payment1 |
|---|---|---|---|
| Revolving | As low as prime + 5.00% | 17.00% | 3.00% of outstanding balance, or $25 (whichever is greater) |
| *Annual Percentage Rate, subject to change. (Rates will vary based on the borrower’s credit score and selected term) 1 Current prime rate is 8.00%. Maximum unsecured limits apply. Certain restrictions apply. |
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Overdraft Protection Line of Credit
We know mistakes happen, and that’s why we offer overdraft protection solutions.
| APR* | Maximum Loan Amount |
|---|---|
| 17.00% | $500 |
| * Annual Percentage Rate The minimum monthly payment will be 10.00% of the outstanding balance or $50, whichever is greater. |
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Mortgage/Real Estate Loans
We offer loans for the purchase or refinance of real estate in Maine for land or homes, including manufactured homes.
Effective Date on Mortgage/Real Estate Loans: March 20, 2023
| Term | Rate1 | APR* | Monthly Payment (based on a $100,000.00 loan amount) | Points |
|---|---|---|---|---|
| 10 Year Fixed Rate | 6.250% | 6.593% | $1,122.80 | 0.00% |
| 15 Year Fixed Rate | 6.375% | 6.619% | $864.25 | 0.00% |
| 30 Year Fixed Rate | 6.750% | 6.902% | $648.60 | 0.00% |
| * Annual Percentage Rate. (1) is the note rate. Rates, terms and fees are as of 03/20/23 and are subject to change without notice. The interest rate and fees published are available to borrowers with an excellent credit history. The actual interest rate and fees available will be based on your credit history, property type and may be different than the published rates. Payments do not Include amounts for taxes and insurance premiums, if applicable. The actual payment obligation will be greater if it includes taxes and/or insurance premiums. Please note we offer additional mortgage products not displayed here. | ||||
Under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), residential mortgage loan originators employed by banks, savings associations, credit unions, or Farm Credit System institutions must enroll with the Nationwide Mortgage Licensing System (NMLS) and Registry, obtain a unique identifier from the registry, and maintain their registrations. Any employee of an agency-regulated institution that is subject to the registration requirements will be prohibited from originating residential mortgage loans without first meeting these requirements. The rules include an exception for mortgage loan originators that originated five or fewer mortgage loans during the previous 12 months and who have never been registered; they would not be required to complete the federal registration process.
Our Team
Andrea Fisher #696206
Sean Fluet #1630415
Stephanie Lachance #1725885
Michele Lacombe #2117553
Sharon Landon #835802
Kyle O’Rourke #2157473
Samantha Usher #2306619
Consumers can go to http://www.nmlsconsumeraccess.org/ to obtain information on financial institutions and individual mortgage loan officers.
Manufactured Home Loans
We finance manufactured homes, including single and double-wide homes in communities or on leased land.
| Loan Type | Term | Rate | APR | Payment Per $1,000 | |
|---|---|---|---|---|---|
| New Manufactured Home (located on leased land) | 10 years | 7.75% | 7.78% | Purchase or Refinance 90% LTV | $ 12.00 |
| 15 years | 8.00% | 8.02% | $ 9.56 | ||
| 20 years | 8.50% | 8.52% | $ 8.68 | ||
| Used Manufactured Home (located on leased land) | 10 years | 8.25% | 8.28% | Purchase or Refinance 85% LTV | $ 12.27 |
| 15 years | 8.75% | 8.77% | $ 9.99 | ||
| 20 years | 9.50% | 9.52% | $ 9.32 | ||
Home Equity Loans
Choose from our fixed-rate term or our line of credit variable-rate loans.
| Loan Type | Term | APR* | Monthly Payment Per $1,000 Borrowed |
|---|---|---|---|
| Home Equity Line of Credit (HELOC) | Revolving | As low as 7.00% variable1 Max. APR = 18% | Varies 2 |
| Fixed Rate Equity | 10 years | As low as 8.00% | $12.13 |
| Signature Equity - Home Improvement Loan | 10 years | As low as 8.75% | $12.53 |
| * Annual Percentage Rate. Rate adjusted quarterly based on prime rate plus 0.00%. 1. The home equity line of credit loan has a variable rate of prime plus 0.00% for the life of the loan. The rate is subject to adjust quarterly. Prime rate is 7.00% APR as of 11/17/22. Hazard Insurance is required; flood insurance is required where necessary. Please consult your tax adviser for deductibility of interest and charges. We will lend up to 80% of the appraised value of your home, minus the first mortgage or 90% LTV if New Dimensions FCU is the first lienholder. Minimum credit line is $5,000. 2. HELOC minimum monthly payment will be the greatest of: (i) 1.50% of the line’s balance at the last advance, (ii) the amount of accrued finance charges, or (iii) $50. Minimum draw (or advance) amount of $500 at all times. Payments quoted above do not include taxes and/or insurance premiums. 3. Third Party Fees: You may have to pay certain fees to third parties. AVM fee $125.00 or Appraisal fee $670.00-720.00; Flood Service fees $15.00; Recording fees $48.00; Title Service fees $150.00; UCC fees $42.00-$54.00. All third-party fees generally total between $338.00 and $987.00. If you ask, we will give you an itemization of third-party fees, other fees that may be applicable are: Stop payment charge $25.00; Late charge $20.00; Returned Check Charge $25.00. |
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Energy Loans
When you need to update your heating or cooling system, an Energy Loan may be the choice for you.
| Term | APR* | Monthly Payment Per $1,000 Borrowed |
|---|---|---|
| Up to 60 months | 7.75% | $20.16 |
| *Annual Percentage Rate Certain restrictions may apply. |
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