Loans for any reason
Whether you’re buying a car, applying for a mortgage, or looking to buy something you need right now, we’re your source for money when you need it.
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The benefits of borrowing from MIT Federal Credit Union
- Competitive low rates
- Various terms and options
- Easy application, quick approval process
- Flexible and convenient payment options
- No processing fees for most loan types
Loan Rates
Unsecured Loans
Effective Date: Tuesday, October 28th, 2025
| Type of Loan | Term | APR* | Payment/$1000 |
|---|---|---|---|
| Personal Loan + Co-Application/Guarantor Loan | 12 Months | 8.75% | $87.32 |
| 24 Months | 9.00% | $45.68 | |
| 36 Months | 9.25% | $31.91 | |
| 48 Months | 9.50% | $25.12 | |
| 60 Months | 10.00% | $21.25 | |
| Tuition Assistance Loan** | 12 Months | 8.75% | $87.32 |
| Overdraft Protection Line of Credit^ | Line of Credit | 11.00% | N/A |
| Fuel Assistance Loan | 12 Months | 6.50% | $86.29 |
| Express Loan | 12 Months | 18.00% | $91.67 |
| Accessibility Lifestyle Loans | 12 Months | 8.50% | $87.20 |
| 24 Months | 8.75% | $45.57 | |
| 36 Months | 9.00% | $31.80 | |
| 48 Months | 9.25% | $25.00 | |
| 60 Months | 9.75% | $21.13 | |
| Rental Assistance | 12 Months | 8.50% | $87.20 |
| 24 Months | 8.75% | $45.57 | |
| 36 Months | 9.00% | $31.80 |
Auto Loans
Effective Date: Tuesday, October 28th, 2025
| Type of Loan | Term | APR* | Payment/$1000 |
|---|---|---|---|
| New/Used Auto | Up to 36 Months | 7.25% | $30.99 |
| New/Used Auto | 48 Months | 7.50% | $24.18 |
| New/Used Auto | 60 Months | 7.75% | $20.16 |
| New/Used Auto | 72 Months | 8.25% | $17.66 |
| New/Used Auto | 84 Months | 9.25% | $16.22 |
| New/Used Mobility Vehicle Loan | 36 Month | 7.25% | $30.99 |
| New/Used Mobility Vehicle Loan | 48 Month | 7.50% | $24.18 |
| New/Used Mobility Vehicle Loan | 60 Month | 7.75% | $20.16 |
| New/Used Mobility Vehicle Loan | 72 Month | 8.25% | $17.66 |
| New/Used Mobility Vehicle Loan | 84 Month | 9.25% | $16.22 |
| New/Used Mobility Vehicle Loan | 96 Month | 10.25% | $15.32 |
Other Vehicle Loans
Effective Date: Tuesday, October 28th, 2025
| Type of Loan | Term | APR* | Payment/$1000 |
|---|---|---|---|
| New & Used Motorcycles | 36 Months | 5.00% | $29.98 |
| 48 Months | 5.25% | $23.15 | |
| 60 Months | 5.50% | $19.11 | |
| 72 Months | 5.75% | $16.46 | |
| 84 Months | 6.00% | $14.62 | |
| New & Used Boats and RV's & Utility Trailers | 36 Months | 7.25% | $30.99 |
| 48 Months | 7.50% | $24.18 | |
| 60 Months | 7.75% | $20.16 | |
| 72 Months | 8.00% | $17.54 | |
| 84 Months | 8.25% | $15.72 | |
| 120 Months | 8.50% | $12.40 |
Secured Loans
Effective Date: Tuesday, October 28th, 2025
| Type of Loan | Term | APR* | Payment/$1000 |
|---|---|---|---|
| Share Secured (Frozen Share) | Up to 60 Months | 5.25% | $19.01 |
| Credit Builder Loan | Up to 12 Months | 8.75% | $87.32 |
| HEAT Loan, Micro ($500-$2,000) | Up to 24 Months | 0.00% | $41.67 |
| HEAT Loan, Expanded ($2,001-$25,000) | Up to 84 Months | 0.00% | $11.91 |
Solar Loans
Effective Date: Tuesday, October 28th, 2025
| Name | Term | APR* | Payment/$1000 |
|---|---|---|---|
| Solar Loan | 84 months | 9.00% | $16.09 |
eBike Loans
Effective Date: Tuesday, October 28th, 2025
| Name | Term | APR* | Payment/$1000 |
|---|---|---|---|
| eBikes | 12 Months | 8.50% | $87.24 |
| eBikes | 24 Months | 8.50% | $45.47 |
| eBikes | 36 Months | 8.50% | $31.58 |
| eBikes | 48 Months | 9.25% | $25.01 |
| eBikes | 60 Months | 9.75% | $21.13 |