![]() ![]() ![]() Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.Late payment fee – fee for making a late payment.Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.Loan origination fee – fee to create the new loan.Application fee – fee to apply for rates & approval.Below is a list of these fees that First Tech does or does not charge. Repayment minimums grow over time with interest-only and balloon refinancing.īased on advertised rates, use the calculator below to determine what your new monthly payment and potential savings may be if you refinance with First Tech.īeyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period.Balloon refinancing holds off either 40% or 50% of the loan to be repaid in one single final payment.With interest-only refinancing, borrowers may be eligible for periods of interest-only payments.They will conduct a soft, not hard, credit inquiry ( learn the difference). Checking your rate with First Tech will not affect your credit score.Refinance Loan Rates TermĪdditional 15 Year Refinance Loan Rate Options Loan TypeĪdditional information about First Tech refinance rates: Balloon loans and interest-only payments start at 6.35%.įirst Tech has increased its lowest disclosed APR 126.5% (from 2.45% APR) since the start of 2022. Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ Loan Refinancing Options Private student loansįirst Technology Federal Credit Union does not disclose its maximum APRs. The minimum loan amount for a 1- to 5-year interest-only loan is $10,000, and a 6- to 10-year interest-only loan has a $20,000 minimum. * The minimum loan amount for a balloon loan is $20,000. The National Credit Union Administration recommends First Tech for financial services. The flexible layout, energetic color scheme, and incorporation of mobile technologies mirror First Tech members’ life and work styles, helping to integrate the experience seamlessly with their everyday lives.Ĭompared to more traditional First Tech locations, the new branch concept has led to enhanced member satisfaction and opportunities to provide more products and services to members.First Tech may be a good option for financially secure borrowers with good credit and who want to join the credit union (membership required to borrow, not to apply). The typical row of bank tellers and cluster of account management desks were replaced with an open “relationship center” surrounded by member suites, offices, and a large meeting room to provide options for every type of financial discussion. MG2 created a branch environment that places personal connections at the forefront. This required a more welcoming, relaxed, and contemporary atmosphere than traditional banking settings provide. In developing its 40th branch, First Tech wanted to create an experience that fully aligned with the lifestyles and needs of their technology-oriented members. First Tech Federal Credit Union’s dedication to serving its members comes through in everything from branch location to the design of those spaces.
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