*By submitting this form, you agree to the following terms of the Skip-a-Payment program (only one borrower’s consent is required):
*Skip-a-Payment is subject to approval and not available on First Mortgage Loans; you must be a member in good standing. By participating in the Skip-A-Payment program, your maturity date will be extended, and your total Finance Charge will be higher than printed on your original loan agreement(s). Interest will continue to accrue on the unpaid balance of the loan(s). If you skip a VISA Credit Card payment, the Finance Charge will continue to accrue at the normal rate. All other terms of your loan agreement(s) remain enforceable by the Credit Union. You may skip no more than 6 payments over the life of the loan and no more than 2 payments per year. The $30 processing fee may be waived if you are experiencing a financial hardship. SharePoint must be notified of Skip-A-Payment 7 days in advance of your loan payment due date. If you utilize payments through payroll deduction, your deduction will be deposited to your SharePoint Savings account. Important Notice for loans protected with CUNA Guaranteed Asset Protection (GAP): Skipping more than 2 payments may jeopardize a potential GAP claim. Please refer to the Protected Balance section in your copy of the Member's Choice Waiver Agreement for GAP prior to skipping payments.
**This solution will be based upon your need and what the Credit Union is able to offer. Please ask SharePoint Representative for full information.
***Timing of first payment may vary based on approved loan terms and cannot be subject to negative amortization. Interest will continue to accrue during the period of non-payment.
^APR=Annual Percentage Rate. All posted rates are as low as and may vary based on your credit history and loan to value (LTV). Other rates and terms available.
1Subject to approval. Must be an existing member in good standing. SharePoint will advance up to $1,200 on an existing auto loan with a current balance of $10,000 or more. Loan must be a minimum of 12 months old. Current auto rate will increase by .25%. Payments will remain the same, loan term will extend. Contact a SharePoint Credit Union Representative for full details.
2Subject to credit approval and requires income verification. Rates and terms are subject to change. Property must be the primary residence or a non-investment second/vacation home. Property must be located in MN or WI. Closing costs will vary based on loan amount, appraisal requirement, geographic location, and title examination findings. For loan amounts of $25,000 to $150,000, costs will typically range from $591 to $961 including an appraisal if one is required. Property insurance required. SharePoint is an equal housing lender.
An example of a five year Home Equity Loan fixed-rate monthly payment at 3.99% would be 60 payments of $18.42 per $1,000 borrowed.
Home Equity Line of Credit (HELOC) has a variable rate indexed to the Prime Rate as published by the Wall Street Journal on the last day of the month, plus a set Margin. The Prime rate, as of 05/01/2020 is 3.25%. A HELOC will never go below 4.00% APR (floor) and will not exceed 18.00% APR or the highest allowable rate for this type of agreement. A HELOC with a Loan to Value (LTV) of 80% or less does not have a Margin added to the Prime Rate. A HELOC with a LTV greater than 80% will have a Margin of 3.00% APR added to the Prime Rate. A HELOC has a seven-year draw period with a ten-year repayment period.
3Subject to credit approval. Rates and terms are subject to change. Must be a current SharePoint member. Member must have at least 60 days of good standing with SharePoint. Must be currently impacted financially by COVID-19 pandemic. Documentation may be required. An example of a two year Relief Loan fixed-rate monthly payment at 5.99% would be 24 payments of $46.98 per $1,000 borrowed.