current loan rates

current loan rates

APR = Annual Percentage Rate

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**Year of Vehicle: 2017, 2016, 2015, 2014, 2013, 2012 - Max Mileage 72k

***Year of Vehicle: 2017, 2016, 2015, 2014, 2013 - Max Mileage 60k

****Year of Vehicle: 2017, 2016, 2015, 2014 - Max Mileage 48k

Add .50% for terms 61–120 Months

Add 1.00% for terms 121–180 Months

HELOC Minimum LOC amount: $15,000

Maximum Term: 20 Years (240 Months)

May require co-signer/maker

Minimum Payment is 2.5% per month of the outstanding principal balance or $50, whichever is greater.

Click here to learn about our Priority Banking Plan SM Checking account to qualify for rate and fee discounts

1.95% APR fixed for 2 years or

2.75% APR fixed for 3 years

3.955% interest / 3.99% APR fixed for 10 years

Rates updated as of 03/22/2018

1.95% APR fixed for 2 years or

2.75% APR fixed for 3 years

3.955% interest / 4.147% APR fixed for 10 years

Rates updated as of 03/22/2018

Rates updated as of 03/22/2018

* Important Information Regarding HI Rates

The Annual Percentage Rate (APR) of 5.99% will apply to new, approved personal loan applications received 3/1/18 to 3/31/18 with a principal amount of $10,050.00 and a term of 48 months. Loans with other principal amounts ($2,500 minimum loan amount) and terms are available, but the promotional APR may differ. The interest rate will be 0.25 percentage point lower if you have a personal Priority Banking Checking Account Level 1 or 2 and 0.35 percentage point lower if you have personal Priority Banking Checking Account Level 3. A one-time documentation preparation fee of $50.00 applies to all loans under this promotion and will be added to the principal balance. For a 48-month loan of $10,050 at 5.99% APR, you will have 48 monthly payments of $234.77, which includes principal and interest. Offer subject to credit approval. This offer does not apply to business or real estate loans. Also, the proceeds of the loan cannot be used to pay off any existing First Hawaiian Bank credit cards, personal loans or lines-of-credit.

Home Equity FirstLine Plus:

The promotional 0.95%, 1.95%, and 2.75% Annual Percentage Rates (APR) for the variable rate portion of credit line are fixed for 12, 24 and 36 months, respectively, from account opening. After the applicable promotional rate period, the APR for the variable rate portion of credit line may vary and will be adjusted monthly to 1.50 percentage points over an index, which is The Wall Street Journal Prime Rate, except that the APR will never be lower than 4.50% and will never be higher than 19.00% for Hawaii. The current fully indexed variable APR is 6.34% as of 3/22/18. No discounts apply to the promotional fixed rates. The APR after the promotional period will be 0.25 or 0.35 percentage point lower if you have a personal Priority Banking Checking Account Level 2 or Level 3, respectively. Both the promotional APR and the APR after the promotional rate period will be 0.50 percentage point higher for investors and for lines secured by a second home, and 1.00 percentage point higher for leasehold (owner occupant only) properties. Other adders may apply. You must carry insurance on the property that secures the credit line. For Hawaii, most closing costs waived for owner-occupants, investors, and lines secured by a second home, unless an ALTA policy, appraisal, trust review, or preparation of other legal documents is required. These closing costs are estimated at $750 – $3,557 (ALTA policy), $715 – $2,285 (appraisal fee), $260 (trust review fee), and $225 – $475 (legal documentation). Other closing costs may apply and the fees quoted could be higher, depending on your specific credit line. There is an annual fee of $100, which is non-refundable and will be charged to your credit line on each anniversary date of your credit line account. The annual fee is waived if you have a personal Priority Banking Checking Account Level 3 at the time the fee is assessed. Offer subject to credit approval and good for new approved Equity FirstLine Plus applications received from 3/1/18 to 3/31/18. Credit line account must be opened within 60 days of application date. Refinancing of existing First Hawaiian Bank loans, lines of credit or credit cards, and Equity FirstLine Plus locks, personal lines of credit, and lines to purchase and install a new photovoltaic system, do not qualify for the rate offer. Only credit lines secured by Hawaii and Guam properties are eligible. Cannot be combined with other special rates or promotions.

The 7-year Promotional Rate is based on an owner-occupant, fully-amortized 7-year fixed rate loan of $100,000 at 3.955% interest rate / 4.004% annual percentage rate (APR) with 84 monthly principal and interest payments of $1,364.81. The 10-year Promotional Rate is based on an owner-occupant, fully-amortized 10-year fixed rate loan of $100,000 at 3.955% interest rate / 3.99% APR with 120 monthly principal and interest payments of $1,010.31. Other payment options are available. Your actual APR may vary depending on the amortization schedule selected, loan funding date, and other factors. Promotional rates shown are available up to $500,000 to qualified owner-occupants only. You must carry insurance on the property that secures the loan. If you are an owner-occupant, you will not have to pay closing costs unless our credit underwriting policies require an ALTA policy, appraisal, trust review, or other legal document preparation, which shall be paid by you. These closing costs are estimated at $750 – $3,557 (ALTA policy), $715 – $2,285 (appraisal fee), $260 (trust review fee), and $225 – $475 (legal documentation). Your actual costs may be higher. Consumer Equity Loans secured by investment property or second homes are subject to rate add-ons and payment of all closing costs by you. This offer is available for new approved Consumer Equity Loan applications received from 3/1/18 to 3/31/18, subject to credit approval. Offer cannot be combined with other promotions or special rates. Refinancing of existing First Hawaiian Bank mortgages and home equity loans or lines-of-credit do not qualify for this offer. Only Hawaii properties are eligible. Other restrictions apply.

The introductory 3.99% Annual Percentage Rate (APR) is fixed for one year from account opening. After the introductory period, the APR may vary and will be adjusted monthly to 4.50 percentage points over an index, which is the Wall Street Journal Prime Rate, except that the APR will never be higher than 24.00%. The current variable APR is 9.38% as of 3/22/18. The APR will be 0.25 or 0.35 percentage point lower if you have a personal Priority Banking Checking Account Level 2 or 3, respectively. There is a one-time documentation preparation fee of $50.00 and an annual fee of $35.00. Annual fee of $35.00 will be waived as long as you have a personal Priority Banking Checking Account Level 3 or Private Banking at the time the fee is assessed. Offer subject to credit approval and good for new approved Personal FirstLine Lock applications received from 3/1/18 to 3/31/18 and cannot be combined with other promotions or special rates. This offer does not apply to Business or Real Estate Loans. Refinances of existing First Hawaiian Bank personal loans or lines-of-credit do not qualify for the offer.

** Important Information Regarding GU Rates

The Annual Percentage Rate (APR) of 5.99% will apply to new approved personal loan applications received 3/1/18 to 3/31/18 with a principal amount of $10,050.00 and a term of 48 months. Loans with other principal amounts ($2,500 minimum loan amount) and terms are available, but the promotional APR may differ. The interest rate will be 0.25 percentage point lower if you have a personal Priority Banking Checking Account Level 1 or 2 and 0.35 percentage point lower if you have personal Priority Banking Checking Account Level 3. A one-time documentation preparation fee of $50.00 applies to all loans under this promotion and will be added to the principal balance. For a 48-month loan of $10,050 at 5.99% APR, you will have 48 monthly payments of $234.77, which includes principal and interest. Offer subject to credit approval. This offer does not apply to business or real estate loans. Also, the proceeds of the loan cannot be used to pay off any existing First Hawaiian Bank credit cards, personal loans or lines-of-credit.

Home Equity FirstLine Plus:

The promotional 0.95%, 1.95%, and 2.75% Annual Percentage Rates (APR) for the variable rate portion of credit line are fixed for 12, 24 and 36 months, respectively, from account opening. After the applicable promotional rate period, the APR for the variable rate portion of credit line may vary and will be adjusted monthly to 1.50 percentage points over an index, which is The Wall Street Journal Prime Rate, except that the APR will never be lower than 4.50% and will never be higher than 18.00%. The current fully indexed variable APR is 6.34% as of 3/22/18. No discounts apply to the promotional fixed rates. The APR after the promotional period will be 0.25 or 0.35 percentage point lower if you have a personal Priority Banking Checking Account Level 2 or Level 3, respectively. Both the promotional APR and the APR after the promotional rate period will be 0.50 percentage point higher for investors and for lines secured by a second home, and 1.00 percentage point higher for leasehold (owner occupant only) properties. Other adders may apply. You must carry insurance on the property that secures the credit line. Receive $100 off closing costs, which are estimated at $665 – $2,871 (appraisal fee), $12 (flood determination fee), $840 – $2,212 (title report), $150 – $1,145 (recording fee), $416 (trust review fee), and $400 – $725 (legal documentation). Other closing costs may apply and the fees quoted could be higher, depending on your specific credit line. There is an annual fee of $100, which is non-refundable and will be charged to your credit line on each anniversary date of your credit line account. The annual fee is waived if you have a personal Priority Banking Checking Account Level 3 at the time the fee is assessed. Offer subject to credit approval and good for new approved Equity FirstLine Plus applications received from 3/1/18 to 3/31/18. Credit line account must be opened within 60 days of application date. Refinancing of existing First Hawaiian Bank loans, lines of credit or credit cards, and Equity FirstLine Plus locks, personal lines of credit, and lines to purchase and install a new photovoltaic system, do not qualify for the rate offer. Only credit lines secured by Hawaii and Guam properties are eligible. Cannot be combined with other special rates or promotions.

The 7-year Promotional Rate is based on an owner-occupant, fully-amortized 7-year fixed rate loan of $100,000 at 3.955% interest rate / 4.223% annual percentage rate (APR) with 84 monthly principal and interest payments of $1,364.81. The 10-year Promotional Rate is based on an owner-occupant, fully-amortized 10-year fixed rate loan of $100,000 at 3.955% interest rate / 4.147% APR with 120 monthly principal and interest payments of $1,010.31. Other payment options are available. Your actual APR will vary depending on the amortization schedule selected, loan funding date, and other factors. Promotional rates shown are available up to $500,000 to qualified owner-occupants only. You must carry insurance on the property that secures the loan. If you are an owner-occupant, you will receive $125 off closing costs. These costs, if applicable, are estimated at $665 – $2,871 (appraisal fee), $12 (flood determination fee), $840 – $2,212 (title report), $150 – $1,145 (recording fee), $416 (trust review fee), and $400 – $725 (legal documentation). Your actual costs may be higher. Consumer Equity Loans secured by investment property are subject to rate add-ons and payment of all closing costs by you. This offer is available for new approved Consumer Equity Loan applications received from 3/1/18 to 3/31/18, subject to credit approval. Offer cannot be combined with other promotions or special rates. Refinancing of existing First Hawaiian Bank mortgages and home equity loans or lines-of-credit do not qualify for this offer. Only Guam properties are eligible. Other restrictions apply.

The introductory 3.99% Annual Percentage Rate (APR) is fixed for one year from account opening. After the introductory period, the APR may vary and will be adjusted monthly to 4.50 percentage points over an index, which is the Wall Street Journal Prime Rate, except that the APR will never be higher than 18.00%. The current variable APR is 9.38% as of 3/22/18. The APR will be 0.25 or 0.35 percentage point lower if you have a personal Priority Banking Checking Account Level 2 or 3, respectively. There is a one-time documentation preparation fee of $50.00 and an annual fee of $35.00. Annual fee of $35.00 will be waived as long as you have a personal Priority Banking Checking Account Level 3 or Private Banking at the time the fee is assessed. Offer subject to credit approval and good for new approved Personal FirstLine Lock applications received from 3/1/18 to 3/31/18 and cannot be combined with other promotions or special rates. This offer does not apply to Business or Real Estate Loans. Refinances of existing First Hawaiian Bank personal loans or lines-of-credit do not qualify for the offer.

+ Important Information Regarding CNMI Rates

The Annual Percentage Rate (APR) of 5.99% will only apply to new, approved personal loan applications received 3/1/18 to 3/31/18 with a principal amount of $10,050.00, and a term of 48 months. Loans with other principal amounts ($2,500 minimum loan amount) and terms are available, but the promotional APR may differ. The interest rate will be 0.25 percentage point lower if you have a personal Priority Banking Checking Account Level 1 or 2 and 0.35 percentage point lower if you have personal Priority Banking Checking Account Level 3. A one-time documentation preparation fee of $50.00 applies to all loans under this promotion and will be added to the principal balance. For a 48-month loan of $10,050 at 5.99% APR, you will have 48 monthly payments of $234.77, which includes principal and interest. Offer subject to credit approval. This offer does not apply to business or real estate loans. Also, the proceeds of the loan cannot be used to pay off any existing First Hawaiian Bank credit cards, personal loans or lines-of-credit.

The introductory 3.99% Annual Percentage Rate (APR) is fixed for one year from account opening. After the introductory period, the APR may vary and will be adjusted monthly to 4.50 percentage points over an index, which is the Wall Street Journal Prime Rate, except that the APR will never be higher than 18.00%. The current variable APR is 9.38% as of 3/22/18. The APR will be 0.25 or 0.35 percentage point lower if you have a personal Priority Banking Checking Account Level 2 or 3, respectively. There is a one-time documentation preparation fee of $50.00 and an annual fee of $35.00. Annual fee of $35.00 will be waived as long as you have a personal Priority Banking Checking Account Level 3 or Private Banking at the time the fee is assessed. Offer subject to credit approval and good for new approved Personal FirstLine Lock applications received from 3/1/18 to 3/31/18 and cannot be combined with other promotions or special rates. This offer does not apply to Business or Real Estate Loans. Refinances of existing First Hawaiian Bank personal loans or lines-of-credit do not qualify for the offer.

SBA Loan Rates – Current Interest Rates and How They Work

There are three primary types of SBA loans: SBA 7A Loans, SBA Express Loans, and CDC/504 Loans. SBA 7A loans and SBA Express loans can be used for a wide variety of purposes, including growth capital and refinancing. CDC/504 loans, on the other hand, are specifically for the purchase of fixed assets like real estate and heavy machinery.

March 2018 Maximum interest rates on SBA 7A Loans range from 6.75 % to 9.25 %. Full Table

March 2018 Maximum interest rates for the CDC portion of CDC/504 Loans currently range from 4.71% to 4.93% including fees. Full Table

Before reading further, make sure you are qualified. Though there are exceptions, and startups are sometimes eligible, there are five general requirements for getting an SBA loan:

  • In business at least 2 years
  • Personal credit score is 680+ (check your score for free here)
  • Seeking at least $30,000
  • At least $50,000 in revenues for the past 12 months
  • Business is profitable

Sound like you? Well qualified borrowers can get pre-qualified for up to $350K of SBA financing online in minutes. Our preferred SBA loan provider has a streamlined SBA loan process that funds businesses in as little as one week. See how much you pre-qualify for.

Current SBA (7A) Loan Interest Rates and Explanation

The Small Business Administration (SBA) sets the maximum interest rates that banks can charge on 7A loans. The current maximum interest rate ranges from 6.75% – 9.25%, depending on the size of the loan and the amount being borrowed.

The maximum interest rates on SBA 7A loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

Maximum Interest Rates on SBA 7A Loans for March 2018

If you’ve been in business for 2+ years, have a credit score of 680+, and have gross annual revenues of at least $100K, you may qualify for SBA financing with our preferred SBA loan provider. Get prequalified online for up to $350K in minutes.

Detailed SBA 7(a) Interest Rate Explanation* Please note SBA 7A Express loans carry a higher interest rate for similar size amounts and terms than the standard 7A loans above. We recommend avoiding SBA Express loans as firms like SmartBiz can provide approval for the standard 7A with similar turnaround times.

As the table above shows, the maximum interest rate on SBA 7(a) loans is based on three factors:

  1. A base rate (one of the following publicly available interest rate measures): Prime Rate, LIBOR (one month) + 3.0%, or SBA Peg Rate
  2. The term of the loan: Less than 7 years or greater than 7 years. For example, 3 and 5 year loans would all fall into the same category of under 7 years.
  3. The size of the loan: Under $25,000, $25,000 to $49,999, and over $50,000. For example, loans of $30,000 and $45,000 will fall under the same category.

As the table shows, loans longer than 7 years have a maximum interest rate which is half a percent higher than similar size loans that are for terms that are less than 7 years.

Loans for more than $50,000 have 1% lower maximum interest rates than loans between $25,000 and $49,999 when taken for similar terms. Similarly, loans for $25,000 to $49,999 have 1% lower maximum interest rates than loans for less than $25,000.

If you are interested in applying for an SBA Loan, we recommend checking out SmartBiz. They are the best company we have found at providing quick turnarounds on SBA loan approvals, and you can find out how much you qualify for in 5 minutes .

Fixed vs. Variable SBA Interest Rates

7A loans can have a fixed or variable interest rate. With a fixed rate loan, the loan interest rate remains constant throughout the life of the loan. With a variable rate loan, the loan’s interest rate can change (often referred to as a reset) at regular intervals, such as quarterly or monthly.

With variable rate SBA 7A loans, the rate is reset based on one of three publicly available market interest rate numbers, plus a fixed percentage. The interest rate must always be at or below the maximum interest rate set by the SBA. For smaller size SBA loans (for example those under $500,000), banks tend to offer only variable rate loans, with interest rates at or close to the maximum allowable by the SBA.

The Base Rate And Interest Rate Resets

Banks can choose one of three market interest rate measures as their base rate. These are the prime rate, LIBOR + 3.0%, or the SBA peg rate. While there are small differences between these rates, they tend to track each other very closely. The Prime Rate is the one that’s most commonly used.

Rates as of March 1, 2018:

  • Prime Rate: 4.50% (source: WSJ)
  • LIBOR (one month) + 3.0%: 4.66% (source: Bankrate)
  • SBA PEG Rate: 2.38% (source: National Association of Government Guaranteed Lenders)

These rates can go up or down based on market conditions. Currently, they are at decade low levels. Over the last 10 years, the Prime Rate has been as high as 8.3%.

With a variable rate SBA 7A Loan, as market interest rates rise so will the rate on the loan. Let’s take the example of a 10-year loan for $50,000 with interest rates rising by 2%.

jThe maximum interest rate on the loan currently would be 7.75%, with a monthly payment of $600 per month. With a 2% rise in interest rates upon the interest rate reset, the rate would be 9.75%, with a monthly payment of $654 (this would be the monthly increase for a newly issued loan. If the loan was older, the increase in monthly payment would be lower).

Interest Rates Are Not The Only Costs To Borrowing Money: APR/APY

When taking a loan, there is often an origination fee. This fee supposedly covers the costs of the bank or financial institution of making the loan, including marketing costs. However, the origination fee is not directly based on costs and is arbitrarily set by the financial institution. An origination fee of 4% is not unusual. The fee is typically taken “off the top”. For example, a borrower taking a $50,000 SBA loan with a 4% origination fee would only receive $48,000.

SBA 7(a) loans also have a guarantee fee. Initially, the lender pays this fee to the SBA, but it’s almost always passed on to the borrower at closing. Currently, the SBA has waived fees for loans under $150,000. Above that, the fee typically ranges from 3 % to 3.5 % of the guaranteed portion of the loan. The exact percentage depends on the size of the loan and the length of the loan. For example, if a borrower takes a $250,000 10-year 7a loan, the SBA may guarantee 75 % of that, or $187,500. 3 percent of that amount, or $5,625, is the guarantee fee that will be charged to the borrower. For more info, click here.

The true cost of borrowing money (interest rate + fees) is often called the APY (Annual Percentage Yield) or APR (Annual Percentage Rate). On a ten year SBA loan, the effect of fees can create an APR or APY that is around 1% higher than the loan’s interest rate. The shorter the loan the bigger the impact that fees will have on the APY/APR.

What size SBA loan could you qualify for? Apply with SmartBiz and get an estimate in minutes.

March 2018 SBA Loan Rates On Real CDC / 504 Loans

The Small Business Administration (SBA) sets the maximum interest that banks can charge on CDC/504 loans. The current maximum interest rate ranges from 3.83% to 4.56%, depending on the size of the loan and the amount being borrowed.

The maximum interest rates on CDC/504 loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

While a 7A SBA Loan can be used to purchase real estate, a Real CDC / 504 Loan will tend to provide borrowers with tremendous interest rate savings. A CDC / 504 loan is composed of two loans:

  1. A loan from a financial institution (bank) for typically 50% of the price of the property, equipment, and building upgrades.
  2. A loan from a Certified Development Company (a non-profit) for 40% of the price.

The remaining 10 % is a down payment from the borrower. The interest rates on the bank portion of the loan are not set by the SBA. However, the interest rates on these loans tend to be very low, currently in the mid-single digits. Because the bank loan is senior to the CDC loan and the loan is backed by real-estate, there is a low risk that the bank will not be able to get back the money it loans. The low-risk is reflected in the low-interest rates.

The maximum interest rate on the CDC portion of the loan is set by the SBA.

Up to 80% Loan to Value. Credit score of 725 or higher and less than 43% Debt to Income Ratio. Payments do not include amounts for taxes and insurance premiums, if applicable, and that the actual payment obligation will be greater. Rates, fees and terms of credit stated are based on Bank's normal credit underwriting standards. Your application may differ based on your credit history. Property Insurance is required. Flood Insurance may be required. Loans are limited to the Bank trading area.

APR is based on $30,000 loan amount. Fees totaling $201 are due and payable upon signing of loan documents. Borrower must pay mortgage satisfaction fees at loan termination.

Consult a tax advisor for deductibility of interest. Rates and terms subject to change without prior notice.

Up to 80% Loan to Value. Credit score of 725 or higher and less than 43% Debt to Income Ratio. Payments do not include amounts for taxes and insurance premiums, if applicable, and that the actual payment obligation will be greater. Rates, fees and terms of credit stated are based on Bank's normal credit underwriting standards. Your application may differ based on your credit history. Property Insurance is required. Flood Insurance may be required. Loans are limited to the Bank trading area.

APR is effective for new credit lines up to $250,000. A Closing Documentation Fee of $75 is due and payable upon signing of loan documents. An Early Termination Fee of $350 will be charged if the line is closed within 24 months of being established. Borrower must pay mortgage satisfaction fees at loan termination.

Stated APR is a variable rate based on Wall Street Journal Prime Rate +margin or a minimum APR of 3.49%, whichever is greater. Maximum APR is 18.00%. This account includes a fixed rate option. Current fixed rate APRs range from 3.75% to 4.75% depending on the loan term selected. This rate may vary, but once established as a new fixed rate advance, will not vary thereafter. There is a limit of two (2) fixed rate advances at any one time, with minimum advance of $3,500.

This Line of Credit has a 15 year draw period. By making only the minimum periodic payments each billing cycle for the maximum term, your line of credit will have a maturity balloon payment, where all principal, interest and fees will be due in 15 years from the date the line of credit is established. Please refer to our credit agreement for complete details.

Consult a tax advisor for deductibility of interest. Rates and terms are subject to change without prior notice. Please ask about other programs and terms available.

All rates subject to change without notice.

*APR = Annual Percentage Rate.

Your Actual APR (Annual Percentage Rate) will be based upon your individual credit worthiness, loan amount, term of loan, and applicable prepaid items. Lenco Credit Union uses a managed credit program. Check with our Loan Department for current loan rates.

NEW! You don’t even have to be a member yet.

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