If there are no non-interest finance charges, the AIR and APR will be the same.Īpplicable to residential mortgages only and subject to Innovation Federal Credit Union lending criteria for residential properties. All examples are hypothetical and are for illustrative purposes only. Please contact us directly to seek personalized advice from qualified professionals for all personal finance issues.Īnnual Interest Rate = The total cost of credit expressed as an annual percentage, not including various non-interest charges.Īnnual Percentage Rate = The total cost of credit expressed as an annual percentage, taking into account, both interest and various non-interest charges. We cannot and do not guarantee their applicability or accuracy.

Current expiry must be within 3 months or lessĬalculators on the site are made available to you as tools for independent use and are not intended to provide investment advice.For consolidations, the above penalties shall apply or a blended rate as approved by our Retail Team.May select any Ag Closed Mortgage product.Convertible and buy down options/consolidations:.the interest difference of the current posted rate of a similar mortgage type with an equal term.If you wish to prepay in full, renegotiate, or prepay more than 20%, you'll pay the greater of:.

This privilege is not cumulative from year to year and does not apply if you wish to prepay the mortgage in full, renegotiate the rate, or prepay more than 20%. You can prepay up to 20% of the original amount of the mortgage during each 12-month period from the anniversary date.Term lengths 1 ,2, 3, 4, 5, 7 and 10 years.Available for agricultural use: farmland, home quarters.

Agriculture credit union