Home Improvement loans are loans designed to provide you with funding for a specific Home Improvement purpose. (A Home Improvement loan does not require equity in your home as a basis for the loan but can often be used for projects which help build equity.)


If you have a special home improvement project that you'd like to complete, consider inquiring about a Home Improvement loan today.

Current Home Improvement Loan Rates

Effective Date: 2/25/92
 

Purpose: To be used for Repairs and Alterations on Existing Structures

Interest Rates:  Annual Percentage Rate (APR)

Loan Amount:

 $1,000 to $2,499 $2,500 to $10,000

Annual Percentage Rate:

 12% APR 10% APR

(Maximum Loan amount is $10,000.)
Repayment Term:

Borrow

Terms
$ 1000. 1 Year
$ 2000. 2 Years, etc

Insurances:

Disability Insurance is available and optional on the part of the borrower

Premium payment for insurances cannot be included in contract. Premiums must be paid separately to the Credit Union. Please be aware that Life Insurance is also an available option.

Qualifications:

(a) Must be a member in good standing

(b) Must reside on the property and the property must be in New Hampshire. On new structures, the structure must be completed and occupied by the member for a minimum of 90 days.

(c) All Home Improvement loans of $2500. and over require a mortgage deed to be recorded with the country registrar of deeds. Therefore, you must provide a copy of your deed for us to obtain the necessary information.

(d) All applications must be accompanied by a written estimate of the work being done by yourself or a contractor.

(e) Recent verification of income from within two weeks for any and all income disclosed on the application.

Notes:

All loans in the amount of $7500. or above must be inspected upon completion of the listed improvements (No later than one year). The member is responsible for notifying the Credit Union when all improvements have been completed.

All applicable filing fees (Local, County, State, and Federal) are charged to the borrower.

All Annual Percentage Rates shown are subject to change.

Please contact us to obtain additional information concerning loan terms, conditions, fees, and rates.