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loan rates
effective as of: May 13, 2013
Automobiles - Trucks2 (Down payment of 20% may be required)
| Model Year |
Term |
Interest Rate |
APR |
Payment |
| 2008 - 20133 |
24 months |
1.99% |
1.990% |
$425.38 |
|
2008 - 2013
|
36 months |
1.99% |
1.990% |
$286.40 |
| 2008 - 2013 |
48 months |
1.99% |
1.990% |
$216.92 |
| 2008 - 2013 |
60 months |
1.99% |
1.990% |
$175.25 |
| 2008 - 2013 ($25,000 min.) |
72 months |
1.99% |
1.990% |
$368.68 |
| 2003 - 20071 |
24 months |
5.25% |
5.510% |
$441.00
|
| 2003 - 2007 |
36 months |
5.55% |
5.728% |
$302.99 |
Motorcycles1,2 (Down payment of 30% may be required) Loans < $20,000
| Model Year |
Term |
Interest Rate |
APR |
Payment |
| 2012 - 2013 (New) |
48 months |
9.25% |
9.395% |
$250.73 |
| 2012 - Older (Used) |
36 months |
9.75% |
9.936% |
$322.37 |
Snowmobile, ATV, PWC Loans1,2 (Down payment of 30% may be required)
| Model Year |
Term |
Interest Rate |
APR |
Payment |
| 2012 - 2013 (New) |
36 months |
9.75% |
9.940% |
$322.39 |
| 2012 - Older (Used) |
24 months |
10.25% |
10.528% |
$463.89 |
Boats (27' or less), Motors, Trailers1,2 (Down payment of 25% may be required)
| Model Year |
Term |
Interest Rate |
APR |
Payment |
| 2011 - 2013 (New) |
60 months |
9.55% |
9.698% |
$252.18 |
| 2012 - Older (Used) |
36 months |
10.55% |
10.743% |
$326.17 |
Loans for motorhomes and other recreation vehicles available.
1Normal credit qualifications and some additional restrictions apply. Monthly payment based on a $10,000 loan plus a $25.00 processing fee. Other rates and terms available, contact a personal banker at 651-777-8365.
2All Loans subject to credit approval.
3Must be new funds, not available for refinance of existing Lake Elmo Bank Loans. All loans are subject to credit approval. Stated annual percentage rates (APR) available for applications received by May 31, 2013. To obtain the lowest APR, you must have excellent credit history, maximum loan to value not to exceed 100% and debt-to-income not to exceed 45%. $25,000.00 minimum loan amount for 72 month term. The actual APR to be determined when a credit decision is made and may be higher than the lowest rate available. For sample payments, see table below. 24-60 payment examples are based on a loan amount of $10,000.00 and the 72 months is based on a loan amount of $25,000.00. (See back of brochure for additional loan rates and annual percentage rates for other loan products.)
Home Equity Installment Loan2,3
| Term |
Interest Rate |
APR |
Payment |
| 5 years4,5 |
3.98% |
3.986% |
$184.10 |
| 10 years4,5 |
4.99% |
4.991% |
$106.02 |
| 5 yr/20 yr amortization4,5 |
4.99% |
4.992% |
$65.95 |
Home Equity Line of Credit2
| Product |
Interest Rate |
Max APR |
| 10 year variable6 |
Prime + 0.50% variable |
12.95% |
2All loans subject to credit approval.
3Requires a Lake Elmo Bank checking account or automatic payment from a Lake Elmo Bank aaccount. Monthly Payment based on a $10,000 loan.
4Customer pays for full appraisal cost if required. No additional closing costs for loans of $100,000 or less.
5Rates and closing costs based on 80% loan-to-value (LTV) or less. Insurance may be required. For assistance in calculating your LTV please contact a personal banker. Other rates and terms may be available.
6Customer pays for full appraisal cost if required. No additional closing costs for loans of $50,000 or less, insurance may be required. Rates and closing costs based on 70% LTV or less. Rate is based on Wall Street Prime Rate, with a maximum APR of 12.95% and minimum APR of 4.50%. The current rate is the minimum APR of 4.50%. Rate is subject to change. Other rates and terms may be available. For assistance calculating LTV please contact a personal banker.
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