You’ve put a lot into your home.

Get a little more out of it with a Home Equity Loan.

Choose the loan that’s right for you.

Remodel your kitchen. Build an addition. Or consolidate your debt. These loans offer competitive rates and a chance to achieve whatever goals you have in mind.

Home Equity Loan

  • Fixed rate and payment for term of loan
  • Terms up to 240 months. 240 months requires first lien position.
  • Maximum loan amount is computed at 85% of appraised value
  • Appraisal required
Terms Maximum Amount** Rate APR*
60 Months 85% of Appraised Value 4.125% 4.125%
120 Months 85% of Appraised Value 4.375% 4.375%
180 Months 85% of Appraised Value 4.625% 4.625%
240 Months 85% of Appraised Value 5.125% 5.125%
Rates Effective November 13, 2018

*   Annual Percentage Rate
** Maximum loan amount not to exceed 85% of appraised value only when cfsbank is the senior lien. Maximum loan amount not to exceed 80% of appraised value when another lender is the senior lien.

Above APR assumes a $100,000 loan amount for term stated. Monthly payment example: 240 monthly payments of $6.67 per $1,000 borrowed at 5.125% Interest Rate with a corresponding 5.125% APR. The above payment example does not include payment for taxes and property insurance and the actual payment obligation will be greater. Other rates and terms available.

  • Interest may be tax deductible, please consult your tax advisor.

Preferred Home Equity Line of Credit

  • Access to the Line of Credit is as easy as writing a check
  • Competitive variable interest rate
  • Appraisal required

 

Home Equity
Term Minimum Amount Maximum Amount** Rate APR*
240 Months $10,000 85% of Appraised Value 4.99% 4.99%
Rates Effective November 13, 2018

*  Annual Percentage Rate
** Maximum loan amount not to exceed 85% of appraised value only when cfsbank is the senior lien. Maximum loan amount not to exceed 80% of appraised value when another lender is the senior lien.

Monthly Payment Example: If you made only the minimum monthly payment and took no other credit advances, it would take 20 years to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE of 4.99%. During the Draw Period, you would make 120 monthly payments varying between $116.58 and $100.00. During the Repayment Period, you would make 119 monthly payments of $6.97. This would be followed by a final payment of $7.01. (payment does not include payment for escrow account (taxes, insurance, etc.)

  • Preferred Home Equity Line of Credit [HELOC] APR assumes a $10,000 loan amount. This is an Open End Variable Rate Loan based on Prime Rate [as published in the Wall Street Journal: U.S. Prime Rate” (Prime)] as published on the last business day of the month, currently 5.25% as of 9/27/2018 minus .26%. (Prime Rate 5.25% less .260% = 4.990% APR). This is a variable rate loan and the interest rate/APR may increase. Monthly payments vary based on account balance and interest rate/APR and minimum payment requirements.
  • Minimum APR is 2.99% (floor) and Maximum APR is 18.00% (ceiling).
  • Minimum loan amount is $10,000 and maximum loan amount is $150,000.
  • Interest may be tax deductible, please consult your tax advisor.
  • Annual Maintenance Fee of $50.00.