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Loans

First Carolina People's Credit Union has a loan for just about any reason. We are dedicated to providing you with the service you deserve. We know you will appreciate our competitive rates, flexible terms, and easy application process. We strive to work with our members to accommodate all their financial needs. Members can apply for a variety of loans by mail, fax, or in office simply by completing a credit application along with a copy of your proof of income (current paystub).

 

Telephone
Goldsboro:
1-800-452-4021 or
1-919-736-0885

Mailing Address:
P.O. Box 1637
Goldsboro, NC 27533
U. S. A.

Email Address:
memberservice@fcpcu.com






Loans
Annual Percentage Rate (APR)

These rates are current as of August 1, 2011.

Type Direct Pay APR Auto Pay APR Maximum Term
Credit Cards
VISA Credit Card 8.00% 8.00% Minimum $25 Monthly or 3% of Balance
(APR based on credit worthiness) 10.00% 10.00% ---
--- 12.00% 12.00% ---
 
Open-End Loans
Overdraft Line of Credit ($500 line of credit) 16.00% No Discount $25 Monthly
Open-end Signature Loan 10.00% 9.50% 60 Months
Share Secured Loan Share Rate + 2%
(minimum 3.75%)
Share Rate + 2% - .5%
(minimum 3.25%)
Min. Payment is Interest Due
Certificate Secured Loan Rate of Certificate + 3%
(minimum 3.75%)
Rate of Certificate + 3% - .5%
(minimum 3.25%)
Min. Payment is Interest Due
 
Closed-End Loans
Signature Loan Level #1 14.00% 13.50% 60 Months
Signature Loan Level #2 16.00% 15.50% 48 Months
Comaker Loan 13.00% 12.50% 60 Months
 
New Vehicle Loan Level #1
(Beacon Score 725 and up)
5.00% 4.50% 72 Months
New Vehicle Loan Level #2
(Beacon Score below 725)
5.50% 5.00% 72 Months
** Finance up to 90% of MSRP according to Black Book
 
Used Vehicle Loan Level #1
(Beacon Score 725 and up)
5.25% 4.75% 60 Months
Used Vehicle Loan Level #2
(Beacon Score below 725)
5.75% 5.25% 60 Months
** Vehicle up to 10 years old - finance up to 90% of Black Book Clean retail
If Clean retail is not available, then up to 90% of Black Book Average retail
** Vehicle with Salvage Titles - up to 70% of Black Book Average retail
** Age of vehicle plus term of loan can not exceed 13 years
 
New Boat 10.00% 9.50% 84 Months
 
Used Boat 12.00% 11.50% 84 Months
 
New Motorized RV (up to $100,000) 8.25% 7.75% 120 Months
 
Used Motorized RV (up to $100,000) 8.25% 7.75% 120 Months
 
New Travel Trailer Towable (up to $50,000) 8.25% 7.75% 120 Months
 
Used Travel Trailer Towable (up to $50,000) 8.25% 7.75% 84 Months
 
New Pop-Up/Fold Down (up to $50,000) 8.25% 7.75% 72 Months
 
Used Pop-Up/Fold Down (up to $50,000) 8.25% 7.75% 60 Months
 
* The credit union will finance up to 75% of NADA average retail value or 75% of the sales price, whichever is less.
 
Mobile Home Loans (new without land-fixed) 7.50% 7.00% 10 years
Mobile Home Loans (new without land-fixed) 8.00% 7.50% 15 years
Mobile Home Loans (new without land-fixed) 8.50% 8.00% 20 years
Mobile Home Loans (used without land-fixed)
1-2 Years Old 9.50% 9.00% less than 10 years
1-2 Years Old 9.75% 9.25% 10-15 years
3-4 Years Old 10.00% 9.50% 10-15 years
5-7 Years Old 10.25% 9.75% 10-15 years
7-10 Years Old 10.50% 10.00% 10-15 years
 
Land ($50,000 maximum loan) *** Call for current rates No Discount up to 10 years
 
Vacation Home Loan (1 year *ARM) *** Call for current rates No Discount 20 years
Vacation Home Loan (3 year *ARM) ($75,000 maximum loan) *** Call for current rates No Discount 20 years
 
Home Equity Line of Credit ($10,000 minimum & $100,000 maximum) *** Call for current rates No Discount 15 years
 
First Mortgage Loan (2 year *ARM) (up to 90% LTV) *** Call for current rates No Discount 30 years
First Mortgage Loan (2 year *ARM) (90.1% to 100% LTV) *** Call for current rates No Discount 30 years
First Mortgage Loan (5 year *ARM) (up to 90% LTV) *** Call for current rates No Discount 30 years
First Mortgage Loan (5 year *ARM) (90.1% to 100% LTV) *** Call for current rates No Discount 30 years
 

5 year *ARM

*** Call for current rates No Discount 30 years
(95% LTV First Time Homebuyer PLUS $1000.00 for closing costs)

* ARM - Adjustable Rate Mortgage
** Eligibility limited to members purchasing a home who have not owned a home in the prior three years.

Quoted rates and annual percentage rates are subject to change daily at the discretion of the board of directors.

Maximum APR for all loans is the maximum rate allowed by law. The current maximum rate is 18%.


Loan to Value Rates (LTV):
First Mortgage Loans - Up to 100% financing for purchase or no cash out refinance.
Second Mortgage Loans are at a rate of 80% of loan to value.
Home Equity Line of Credit Loans are at a rate of 100% of loan to value.
Construction Loans are at a rate of 85% of loan to value.
Land Loans are at a rate of 75% of loan to value.
Vacation Home Loans are at a rate of 90% of loan to value.

All mobile home loans must be the primary residence or vacation home of the borrower and must be located in North Carolina.

All first and second mortgage loans must be the primary residence of the borrower and must be located in North Carolina or South Carolina.

Lifetime Cap:
2 Year ARM - initial rate + 8%; 5 Year ARM - initial rate + 6%; Home Equity - initial rate + 8%
Construction - initial rate + 6%; Construction - initial rate + 6%; Land - initial rate + 6%
Vacation Home - initial rate + 6%

*All loans are subject to credit approval. Contact the credit union for additional information.*

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