Variable Rate LoanA variable rate loan is a loan in which the rate of interest fluctuates in response to changes in the prime rate. This type of product allows you to take advantage of low interest rate periods. When interest rates fall, you are paying down more on your principal with each payment, and less interest. When interest rates rise with a variable rate loan, the amount of interest increases and your principal payment decreases. Community First offers both secured and unsecured variable rate loans. |
Rate |
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Rate fluctuates during the course of the term. |
Terms |
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1 to 5 year terms available. |
No Penalties |
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Pay down or pay off your loan at anytime, without penalty. |
Payment Options |
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Choose from weekly, bi-weekly, or monthly payments. |
