Apply for a Mortgage

Ocean State Credit Union is a full service mortgage lender with an experienced staff offering expertise in every area of mortgage lending...from purchase to refinance including construction lending. We have access to a full range of mortgage sources and all of our lending specialists are dedicated to finding you the right loan with the most competitive rates and terms.

Whether you are purchasing a new home, or remodeling your current home, Ocean State Credit Union can assist you in finding the product that best suits your needs.

Some of the mortgage products we offer include:

  • 30-Year Fixed Rate Mortgage
  • 15-Year Fixed Rate Mortgage
  • Hybrid Adjustable Rates (5/1 ARM, 7/1, ARM, 10/1 ARM)
  • VA Loans
  • Jumbo (10/1 ARM)
  • Land Loans
  • Construction Loans

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Apply For an OSCU Visa® Credit Card

OSCU Visa® Platinum Rewards

  • As low as 8.90% APR**
  • No Annual Fee
  • Earn Rewards Points or Cash Back through UChoose® Rewards
  • 24 Hour Member Service
  • 24 Hour ATM access for Cash Advances
  • Accepted Worldwide

*Credit card applications are reviewed for creditworthiness to determine if a card will be issued, and if so, which type of card will be issued.

**APR = Annual Percentage Rate

INTEREST RATES AND CHARGES

 

OSCU Visa® Silver Rewards

  • As low as 12.90% APR**
  • No Annual Fee
  • Earn Rewards Points or Cash Back through UChoose® Rewards
  • 24 Hour Member Service
  • 24 Hour ATM access for Cash Advances
  • Accepted Worldwide

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Apply for a Home Equity Loan or Line of Credit

OSCU Home Equity Line of Credit

  • Whether funding a college education, making home improvements, taking a vacation of a lifetime or consolidating debt, Ocean State Credit Union's Home Equity Line of Credit puts it all within your reach.
  • OSCU will finance up to 80% of the value of your 1-4- family owner occupied home minus the first mortgage loan.
  • Draw period is 10 years with a fifteen year repayment schedule at the end of the draw period. During the draw period, payments will be due monthly. Your minimum monthly payment will equal the amount accrued interest and credit insurance premiums (if any) or $50.00 whichever is greater.
  • Financing up to 80% value of residence
  • Prime rate with no closing costs
  • Fast turn around and friendly service

Home Equity Loans

Equity Loans (Closed End)

  • The security is a mortgage on your home.
  • OSCU will finance up to 80% of the value of your 1-4 family owner-occupied home minus your first mortgage balance.
  • Terms of repayment range from 36 months to 240 months.
  • Payments can be made automatically from your checking or savings account or by cash or check.
  • Fixed Rate Term Loans are offered.
  • Financing up to 80% value of residence

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Apply for an Auto or Motorcycle Loan

New Auto, Truck or Van Loans:

  • OSCU will finance up to 100% of the purchase price plus the tax, warranty and license fee's with GAP on the loan.
  • Depending on the vehicle you buy, repayment terms range from 36 to 84 months.
  • The interest rate is a fixed rate, for the term of your loan.
  • Payments can be made automatically from your checking or savings account or by cash or check.
  • Payment Protection is available.

Pre-Owned Auto Loans

  • OSCU will finance up to 100% of NADA retail book value for used autos, eight model years old or less with Guaranteed Asset Protection (GAP).
  • Terms of repayment range from 24 to 60 months for vehicles which are eight years old or less, depending on the year of the vehicle.
  • Payments can be made automatically from your checking or savings accounts or by cash or check.
  • Payment Protection is available.

Motorcycle Loans

Must have full insurance coverage. Vendor's Single Interest (VSI) fee of $24.00 is required on all motorcycle loans.

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Apply for a Personal Loan

What are Secured Loans?

A secured loan is when collateral is used as security for the repayment of a loan. An example of a Secured Loan is when you buy a vehicle and use the car as collateral to secure repayment of the loan. OSCU offers New and Used Vehicle Loans.

What are Share Secured Loans?

Share Secured Loans are borrowing funds using your Savings or Certificates as collateral (excluding IRA accounts). Your funds are on hold, but you still receive dividends on your Savings and Certificates. You can borrow 100% of the available balance. Borrow for long or short terms - there is a maximum term of 12 years on Share Loans.

What are Unsecured Loans?

An unsecured loan is borrowing money, offering your signature as good faith that the loan will be repaid . We offer two types of unsecured loans:

Signature Loans:

  • Loans range from $1000.00 to $10,000.00.
  • Payments are a fixed amount.
  • Terms of Repayment are from 12 to 60 months.

Line of Credit Loans:

  • Loans have a credit line of $1,000.00.
  • A convenient way to avoid checking overdrafts.
  • Funds are set aside to use as your needs arise with a renewable limit.
  • Payments are 5% of the outstanding balance, but never less than $25.00 a month.
  • Advances are granted in increments of $50.00.
  • APR = Annual Percentage Rate. All rates subject to change and credit approval.

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Apply for a Boat or RV Loan

New Recreational Vehicle Loans

Must have full insurance coverage. Vendor's Single Interest (VSI) fee of $73.00 is required for all RV loans.

Pre-Owned Recreational Vehicles

Must have full insurance coverage. Vendor's Single Interest (VSI) fee of $73.00 is required for all RV loans.

New Boat Loans

 

Larger boats will require Marine Mortgage documents. Vendor's Single Interest (VSI) fee of $73.00 is required for all boat loans. *240 month term on boats over $50,000 require a Balloon Payment.

Pre-Owned Boat Loans

Larger boats will require Marine Mortgage documents. Vendor's Singled Interest (VSI) fee of $73.00 is required for all boat loans.

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