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: Sunday, November 10th, 2024
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: Sunday, November 10th, 2024
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: Sunday, November 10th, 2024
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: Sunday, November 10th, 2024
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: Sunday, November 10th, 2024
Name | Term | APR* | Payment/$1000 |
---|---|---|---|
Solar Loan | 84 months | 9.00% | $16.09 |
eBike Loans
Effective Date: Sunday, November 10th, 2024
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 |