Rates
Deposit Accounts
Rates are effective as of September 4th, 2010
| Minimum Balance To | ||||
|---|---|---|---|---|
| Description | APY* | Interest Rate | Open Account | Earn Interest |
| Statement Savings | 0.05% | 0.05% | $50 | $0.01 |
| Advantage Savings | 0.05% | 0.05% | $0.01 | $0.01 |
| Works Plus Savings | 0.05% | 0.05% | $0.01 | $0.01 |
| Minor Savings | 0.05% | 0.05% | $5 | $0.01 |
| MIUTMA Savings | 0.05% | 0.05% | $5 | $0.01 |
| Christmas Club Account | 0.05% | 0.05% | $5 | $0.01 |
| ETA Statement Savings | 0.05% | 0.05% | $50 | $0.01 |
| Commercial Savings | 0.05% | 0.05% | $50 | $0.01 |
| IRA Statement Savings | 0.05% | 0.05% | $100 | $0.01 |
| Premium Business NOW | 0.15% | 0.15% | $100 | $500 |
| 0.15% | 0.15% | $100 | $1,000 | |
| 0.30% | 0.30% | $100 | $5,000 | |
| 0.40% | 0.40% | $100 | $25,000 | |
| Eagle Premier Checking | 0.15% | 0.15% | $0.01 | $500 |
| 0.15% | 0.15% | $0.01 | $1,000 | |
| 0.30% | 0.30% | $0.01 | $5,000 | |
| 0.40% | 0.40% | $0.01 | $25,000 | |
| Eagle Rewards Checking | 3.00% | 2.96% | $0.01 | Up to $10,000 |
| 0.15% | 0.15% | $0.01 | Over $10,000 | |
| First Freedom Club | 0.15% | 0.15% | $0.01 | $500 |
| 0.15% | 0.15% | $0.01 | $1,000 | |
| 0.30% | 0.30% | $0.01 | $5,000 | |
| 0.40% | 0.40% | $0.01 | $25,000 | |
| Health Savings Account | 2.25% | 2.23% | $25 | $100 |
| Eagle Money Market Savings | 0.35% | 0.35% | $100 | $0.01 |
| 0.60% | 0.60% | $100 | $20,000 | |
| 0.85% | 0.85% | $100 | $50,000 | |
| 1.10% | 1.10% | $100 | $75,000 | |
| 1.35% | 1.34% | $100 | $100,000 & up | |
| Personal Money Market | 0.15% | 0.15% | $500 | $0.01 |
| 0.25% | 0.25% | $500 | $10,000 | |
| 0.45% | 0.45% | $500 | $25,000 | |
| 0.70% | 0.70% | $500 | $50,000 | |
| 0.95% | 0.95% | $500 | $75,000 | |
| Commercial Money Market | 0.15% | 0.15% | $500 | $0.01 |
| 0.25% | 0.25% | $500 | $10,000 | |
| 0.45% | 0.45% | $500 | $25,000 | |
| 0.70% | 0.70% | $500 | $50,000 | |
| 0.95% | 0.95% | $500 | $75,000 | |
You must be 55 years and older
This account requires having an active Checking Account
HSA / IRA Certificate of Deposit
Rates are effective as of September 4th, 2010
| Certificates of Deposit / Youth CDs / HSAs / IRAs | APY* | Interest Rate |
|---|---|---|
| 3 Months | 0.40% | 0.40% |
| 6 Months | 0.55% | 0.55% |
| 12 Months | 0.80% | 0.80% |
| 18 Months | 0.90% | 0.90% |
| 24 Months | 1.25% | 1.24% |
| 36 Months | 1.60% | 1.59% |
| 48 Months | 1.90% | 1.89% |
| 60 Months | 2.30% | 2.28% |
Auto Loans
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| 2009-2010 New Auto | |||
| 36 months | 5.750% | 7.013% | $30.31 |
| 48 months | 6.000% | 6.965% | $23.49 |
| 60 months | 6.250% | 7.034% | $19.45 |
| 2009-2010 New Auto | ($25,000 or greater) | ||
| 72 months | 6.500% | 6.764% | $16.81 |
| 2008-2009 Used Auto | |||
| 36 months | 6.250% | 7.516% | $30.54 |
| 48 months | 6.500% | 7.469% | $23.71 |
| 60 months | 6.750% | 7.538% | $19.68 |
| 2005-2007 Used Auto | |||
| 24 months | 6.750% | 9.079% | $44.66 |
| 36 months | 7.000% | 8.596% | $30.88 |
| 48 months | 7.250% | 7.472% | $24.06 |
Rates above are for FFNM borrower(s); add 2.0% for all NON-FFNM borrower(s).
Recreational Vehicles
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| NEW 2010 Motor Homes - Fifth Wheels - Motorcycles - Boats (rates on website are for new RV's only) RATES are available for used 2004 - 2009 RV's (call your lender to inquire) | |||
| >$25,000.00 | |||
| 60 month term | 6.750% | 7.063% | $19.68 |
| 84 month term | 7.00% | 7.231% | $15.09 |
| New 2010 Campers - Boats - ATVs - Snowmobiles - Trailers (rates on website are for new RV's only) RATES are available for used 2004 - 2009 RV's (call your lender to inquire) | |||
| >$5,000.00 - $25,000.00 | |||
| 24 month term | 7.000% | 8.235% | $44.77 |
| 36 month term | 7.250% | 8.095% | $30.99 |
| 48 month term | 7.500% | 8.147% | $24.18 |
| 60 month term | 7.750% | 8.278% | $20.16 |
Rates above are for FFNM borrower(s); add 2.0% for all NON-FFNM borrower(s).
Personal Unsecured Loan
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| >$2,500.00 | |||
| 24 months | 12.750% | 16.610% | $47.42 |
| 36 months | 13.000% | 15.672% | $33.69 |
Rates above are for FFNM borrower(s); add 2.0% for all NON-FFNM borrower(s).
Home Equity Term Loans
Home Equity Term Loan for Stick Built Homes
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| Maximum Total Loan to Value 80% | |||
| 36 months | 5.75% | 6.106% | $30.31 |
| 60 months | 6.00% | 6.221% | $19.33 |
| 84 months | 6.25% | 6.413% | $14.73 |
| 120 months** | 5.625% | 5.979% | $10.91 |
| 180 months | 6.500% | 6.584% | $8.71 |
| Total Loan to Value 81% - 90% | |||
| 36months | 6.75% | 7.109% | $30.76 |
| 60 months | 7.00% | 7.224% | $19.80 |
| 84 months | 7.25% | 7.415% | $15.22 |
| 120 months** | 5.875% | 5.992% | $11.04 |
| 180 months | 7.75% | 7.837% | $9.41 |
** 10-year Home Equity Term Special. To receive the stated APR, you must meet certain credit criteria and have a deposit or loan relationship with First Federal of Northern Michigan. Monthly payment per $1,000 borrowed for a 120-month term is $10.91. Manufactured homes, investment property, and vacant land do not qualify. Additional restrictions may apply, Contact Us for additional information.
Home Equity Term Loan for Manufactured Homes
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| Maximum Total Loan to Value 85% | |||
| 36 months | 6.750 % | 7.470% | $30.76 |
| 60 months | 7.000% | 7.551% | $19.80 |
| 84 months | 7.250% | 7.699% | $15.22 |
| 120 months | 7.500% | 7.743% | $11.87 |
Mortgage Interest Rates
Maximum Total Loan to Value 80%
Conventional Fixed Rate Mortgage Loan Rates
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| 15 Year | 3.750% | 3.950% | $7.27 |
| 20 Year | 4.375% | 4.540% | $6.26 |
| 30 Year | 4.375% | 4.491% | $4.99 |
Rate & APR based on $100,000 loan amount, superior credit rating, 25 day lock period, and no points.
Bi-weekly Mortgage Loan Rates
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| 15 Year | 4.000% | 4.105% | $8.01 |
| 20 Year | 4.625% | 4.718% | $6.93 |
| 30 Year | 4.625% | 4.701% | $5.57 |
Rate & APR based on $100,000 loan amount, superior credit rating, 25 day lock period, and no points.
Adjustable Rate Mortgage Raets
| Term | Rate | APR | Monthly Payment Per $1,000 Financed |
|---|---|---|---|
| 3/1 ARM | 6.000% | 4.030% | $6.60 - $10.29 |
| 5/1 ARM | 6.000% | 4.401% | $6.60 - $10.29 |
| 7/1 ARM | 6.125% | 4.808% | $6.09 - $10.40 |
Adjustable Rate Mortgages are fixed for the first 3, 5, or 7 years depending on the product and then adjust every year after the initial period. Rate changes are capped at 2% per rate adjustment, not to exceed 6% over the life of the loan. Payments per $1,000 financed will vary between the amounts stated above and are calculated on a 360-month amortization period.
Annual Percentage Rates (APRs) and rates are subject to change without notice. APRs and rates quoted above are based on an $100,000 loan amount with 20% down, superior credit rating, 25-day lock period, and no points. Actual APRs and rates may vary based on credit history and other loan details. All loans are subject to credit approval. Contact Us for details.
