Projects Plus Home Loan
Benefits of a Projects Plus Home Loan
Simple Personal Loan Structure
Apply Online in Under 10 Minutes
We'll Beat Your Rate²
Rates Effective: January 18, 2022. All rates quoted are Annual Percentage Rates (APR). See disclaimers for more details.¹
|Term in Months||Rate & Loan Amount|
|$5,000 - $9,999||$10,000 - $19,999||$20,000 - $39,999||$40,000 - $59,999||$60,000 - $100,000|
|24 - 36||5.75% APR||5.50% APR||5.25% APR||5.00% APR||4.75% APR|
|37 - 48||6.00% APR||5.75% APR||5.50% APR||5.25% APR||5.00% APR|
|49 - 60||6.25% APR||6.00% APR||5.75% APR||5.50% APR||5.25% APR|
|61 - 72||6.50% APR||6.25% APR||6.00% APR||5.75% APR||5.50% APR|
|73 - 84||n/a||6.50% APR||6.25% APR||6.00% APR||5.75% APR|
|85 - 120||n/a||n/a||6.50% APR||6.25% APR||6.00% APR|
Your Application & Funding
- We are unable to provide loan pre-approvals and you must apply online.
- If you are approved, you are under no obligation to accept the loan.
- Projects Plus Home Loans will only be funded to a personal bank account and not to a commercial or business account.
- Loan Payments must be made from a personal banking/credit union account.
Good to Know
- The Projects Plus Home Loan is classified as a personal loan, making it a simple lending process on both borrower and lender.
- You and any joint applicants must have a credit score of 680 or higher and at least 7 years of credit history. For any credit score under 720, an extra 0.50% will be added to the standard APR.
- This loan is for improving your primary residence and funds must be used for the purpose stated on the application.
- Once you are approved, you are under no obligation to accept the loan.
²Projects Plus Beat Your Rate: Neighborhood Credit Union will offer a rate 0.10 percentage points lower than the rate offered by a competing lender subject to satisfactory evidence being provided that you were actually approved for a lower rate with another lender for the same loan terms offered by Neighborhood CU prior to loan funding. The Beat Your Rate Program excludes secured or collateralized loan offers from any lender and the competitive offer must be generally available to any customer with a similar credit profile. Terms are subject to change at any time.
Refer a Friend, Earn $100 Cash
The Projects Plus Home Loan is ideal for:
Outdoor kitchen installation
Kitchen and bath remodels
Adding a swimming pool
BEV/PHEV charging station installation
Explore Neighborhood Credit Union Products
Since the Projects Plus Loan is what is called an unsecured loan, there are a few more requirements we have to determine who is a qualified borrower. To qualify, you'll have Excellent Credit as defined, but not limited to, the following:
- Credit score of 680 or higher. If you are applying jointly with someone, both scores must be over 680. For credit scores under 720, an extra 0.50% will be added to the standard APR;
- Seven (7) or more years of significant credit history;
- A credit history with a variety of account types such as:
- Major credit cards, such as Visa, MasterCard, American Express
- Installment debt
- Vehicle loans
- Mortgage loans;
- An excellent payment history with no delinquencies or other problems repaying debt obligations;
- A proven ability to save, evidenced by the following:
- Liquid assets (stocks, bonds, bank or credit union deposits, etc.)
- Cash down payments on real estate
- Retirement savings;
- Little, if any, revolving credit card debt (a ratio of revolving debt balances to revolving debt limits of 25% or less);
- Stable and sufficient verifiable income and assets to easily repay current debt obligations and any new loan with Neighborhood Credit Union;
- The property being improved must be the borrower’s primary residence.
- Loans are made to individuals, not to businesses.
- Loan documents can only be executed electronically, therefore you must have a valid individual email address.
- The loan must be paid off completely before another loan of this type can be obtained.
- The loan cannot be refinanced to add additional amounts.
- This loan is not eligible for the Skip-A-Payment program.
- The applicant must be the owner of the property and the property must be their primary residence.
- This loan cannot be used to refinance an existing Neighborhood Credit Union loan, to purchase bonds, stocks, stock options, or pay back a loan against a stock option.