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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 | 6.250%** | 6.250% |
| 84 Months | 85% of Appraised Value | 6.375%** | 6.375% |
| 120 Months | 85% of Appraised Value | 6.625%** | 6.625% |
| 180 Months | 85% of Appraised Value | 6.875% | 6.875% |
| 240 Months | 85% of Appraised Value | 7.125% | 7.125% |
*Annual Percentage Rate
**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 $7.83 per $1,000 borrowed at 7.125% Interest Rate with a corresponding 7.125% 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.
| Term | Minimum Amount | Maximum Amount** | Rate | APR* |
|---|---|---|---|---|
| 240 Months | $10,000 | 85% of Appraised Value | 7.240% | 7.240% |
* 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 7.240%. During the draw period, you would make 120 monthly payments of $60.33. During the repayment period, you would make 119 monthly payments of $117.35, followed by a final payment of the entire balance of principal and interest. This payment example does not include the amount of taxes, insurance, etc. (escrow account).
