Home Equity Loans

Home Equity Loans

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Home Equity Line of Credit

Remodel your Kitchen or Bath for less than $5 a day with a Home Equity Line of Credit!


*Based on a loan amount of $7,500. If you made a minimum monthly payment of $139.82 and took no other credit advance at an annual percentage rate of 4.50% you would pay the loan off in 60 months totaling $8,389.20.


The annual percentage rate of 4.50% is based upon a .75% discount for having a credit score greater than 700, combined loan to value of less than 75% and the monthly payment auto debited from your Community Savings Bank Checking Account. A 1% discount is available from the starting point of 2% over New York Prime Rate if you meet the following criteria. You have a credit score greater than 700, combined loan to value of less than 75% of appraised or valuation value, an auto debit of the monthly payment from a checking account with Community Savings Bank, and a line of credit greater than $15,000.00. Minimum requirements for a Community Savings Bank Home Equity Line of Credit are; a credit score of not less than 640, debt to income ratio not exceeding 43%, a line of credit not less than $5,000, and minimum advances of $250. A combined loan to value is 90% with a credit score greater than 700, otherwise it would be 85%. Late payment fee of $15 after 15 days. $100 application fee and any other third party costs for items such as lien search and or for a certified appraisal or valuation. Minimum annual percentage rate is 4.25% with a ceiling annual percentage rate of 18%, based on your index plus New York Prime Rate. This rate may change monthly based upon a change in the New York Prime Rate. Minimum payment is the greater of $100 or 2% of your outstanding principle balance. Property Insurance is required. Flood Insurance required where applicable. Interest may be tax deductible, however, please verify this with your tax consultant or advisor.


Benefits

I didn't even know what a home equity loan was before Community Savings Bank's help. I found out that I had some equity, and I was able to get a great deal on a loan that I can use for anything I want!

  • Loans and lines of credit available
  • Low interest rates
  • Flexible terms
  • Use the funds for anything

The interest on a home equity loan or lines of credit may be tax deductible. Please consult your tax advisor for details.

Additional Services Available
  • SHAZAMChek Debit Card
  • Online Banking with Bill Pay
  • E-Statements
  • MoneyLine Phone Banking Service
  • Online check images
  • Direct Deposit
  • Overdraft Reserve
  • Auto deduction of CSB Loan Payments

You may be charged our standard NSF fee of $ 22.00 for each item created by check, in-person withdrawals, ATM withdrawals or other electronic means paid under the limit.

All negative balances must be brought positive with 15 days. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. Please contract a customer service associate for more details.

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