Loan Rates

Current Loan rates and information offered as of: November 29, 2016

Mortgage Loan Rates

Conventional 15-Year Fixed: 3.500% (3.641% APR), 0+.125 pts. Please call Chemeka Williams (NMLS ID 1555504) at (804) 359-8754, ext. 3109 for the most current rates.*

*All stated rates are effective as of 11/28/16 and are based on a home purchase transaction of $200,000, a minimum down payment of $40,000, a loan amount of $160,000 and repayment term as stated. The stated APR is the lender’s standard rate for a borrower with a 750 credit score. The actual rate may vary depending upon each individual’s credit history and transaction specific underwriting factors. 15 year term = 180 months and applies to 15 year conventional loans. All loan programs, rates terms, and conditions are subject to change at any time without notice. Rate scenarios are based on a 30 day lock.

Home Equity Loan Rates

Our home equity rates start at as low as 2.75% APR for up to 60 months, and as low as 3.50% APR for up to 180 months. Please call Chemeka Williams (NMLS ID 1555504) at (804) 359-8754, ext. 3109 for more information.

Automobile and Motorcycle Loan Rates

  • Rates on new, used, and refinanced automobiles and motorcycles as low as 1.99% APR
  • Loan terms up to 84 months
  • Model Years as old as 1996
  • Call (804) 359-8754, option 2, for more details
  • Rates vary based on creditworthiness, term of loan, and vehicle age

Recreational Vehicle (Boat and Motorhome) Loan Rates

  • Rates on new, used, and refinanced RVs and boats as low as 2.49% APR
  • Loan terms up to 180 months
  • Model Years as old as 1996
  • Call (804) 359-8754, option 2, for more details
  • Rates vary based on creditworthiness, term of loan, and vehicle age

Personal Loan Rates

  • Rates as low as 7.74% APR
  • Loan terms up to 84 months
  • No collateral required, in most cases
  • Call (804) 359-8754, option 2, for more details
  • Rates vary based on creditworthiness and term of loan

 

Student Loan Rates

Please visit the student loan portal for the latest student loan rate information.

Credit Card Rates

Rates vary based on creditworthiness at time of application.

  • 3.99% APR Fixed Rate for 18 billing cycles on Purchases, Balance Transfers, and Cash Advances, with no Balance Transfer Fee, applies to Platinum and Platinum Rewards MasterCard credit cards.
  • After introductory period, variable rates as low as 8.405% and 9.405% APR will apply to Platinum and Platinum Rewards cards, respectively.
  • Platinum Secured cards will receive an 8.99% APR Fixed Rate for 12 billing cycles on Purchases, Balance Transfers, and Cash Advances, with no Balance Transfer Fee, and will revert to as low as 16.40% variable APR thereafter.

 

Disclosures

Automobile/Motorcycle Loan Rates, Recreational Vehicle Loan Rates, and Lifestyle Loan Rates quoted above include a .25% rate reduction for direct deposit or payroll deduction and/or an approved New Generations MasterCard credit card. APR = Annual Percentage Rate. For example, the minimum payment on a Vehicle Loan at 1.99% APR for 60 months is $17.53 per $1,000.00 borrowed; the minimum payment on a Recreational Vehicle (RV) Loan at 2.49% APR for 60 months is $17.75 per $1,000 financed; the minimum payment on a Lifestyle Loan at 7.74% APR for 36 months is $31.22 per $1,000.00 borrowed.

Maximum combined rate reduction on Automobile and Motorcycle Loans of .50%. The 1.99% APR is the lowest rate available, including discounts. Rates and terms are subject to change without notice, and may vary based on creditworthiness, term of loan, and vehicle age. Other rates and terms are available. Down payment requirements will be based on individual qualifications.

The 7.74% APR on Lifestyle Loans is the lowest rate available, including discounts.

New Generations Federal Credit Union also offers Certificate Secured Loans and Stock Secured Loans. Please call (804) 359-8754, option 2, for more details.

Please call us at (804) 359-8754 or (800) 230-4819, and select option 2, to speak with a New Generations Loan Officer for more information.