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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
| Terms | Maximum Amount** | Rate | APR* |
|---|---|---|---|
| 60 Months | 85% of Appraised Value | 6.125% | 6.125%* |
| 84 Months | 85% of Appraised Value | 6.250% | 6.250%* |
| 120 Months | 85% of Appraised Value | 6.500% | 6.500%* |
| 180 Months | 85% of Appraised Value | 6.750% | 6.750% |
| 240 Months | 85% of Appraised Value | 7.000% | 7.000% |
*Rate requires $10,000 new money borrowed and auto pay from a cfsbank Checking Account for 60, 84 and 120 months term only.
**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 $7.75 per $1,000 borrowed at 7.000% Interest Rate with a corresponding 7.000% 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.
| Term | Minimum Amount | Maximum Amount** | Rate | APR* |
|---|---|---|---|---|
| 240 Months | $10,000 | 85% of Appraised Value | 7.99% | 7.99% |
* 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 7.99%. During the Draw Period, you would make 120 monthly payments varying between $121.28 and $100.00. During the Repayment Period, you would make 119 monthly payments of $66.59. This would be followed by a final payment of the entire balance of principal and interest. (Payment does not include payment for escrow account (taxes, insurance, etc.)
