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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

Calculators

Loan Rates

Unsecured Loans
Effective Date: Thursday, June 13th, 2024
Type of LoanTermAPR*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: Thursday, June 13th, 2024
Type of LoanTermAPR*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: Thursday, June 13th, 2024
Type of LoanTermAPR*Payment/$1000
New & Used Motorcycles 12-36 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 12-36 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
  85-120 Months 8.50% $12.40

Secured Loans
Effective Date: Thursday, June 13th, 2024
Type of LoanTermAPR*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: Thursday, June 13th, 2024
NameTermAPR*Payment/$1000
Solar Loan 84 months 9.00% $16.09

eBike Loans
Effective Date: Thursday, June 13th, 2024
NameTermAPR*Payment/$1000
eBikes 36 months 6.75% $30.76
  48 months 7.00% $23.95
  60 Months 7.50% $20.04

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