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While COVID-19 has undoubtedly caused a great deal of economic chaos, there have been a few ripple effects of the pandemic that are actually beneficial to consumers, specifically individuals looking to buy or build a home. At Citizens Savings Bank, we have been helping people make their dream homes a reality for over 100 years, and we know an opportunity when we see one.

Let’s start by looking at the opportunity for building a new home. Many builders have been out of work, but are now back and ready to take on your home project! If you’ve been thinking about financing land or a lot and building a new home, you have two things working to your advantage. Rates on land and lot loans and construction loans are very low, and builders are eager to get back to work. You might be able to find a great deal from a local builder.

If you work with a local bank that specializes in mortgages loans, like Citizens Savings Bank, you can find a great deal from a highly-recommended local builder and get the process moving right along. Your bank can act as the liaison between you and your builder and help you every step-of-the-way, taking a lot of the stress off your shoulders.

Citizens Savings Bank offers a zero-point mortgage with flexible terms that are customized to your unique situation. We offer a single closing with a construction period of 6-9 months. Now is the perfect time to start building, so even if you’re just getting started, we can help get your project up and running in no time. Spring and summer are the perfect time to build a home, and with the low rates working in your favor, the timing is almost perfect.

There are opportunities for purchasing a new home too! Right now, mortgage rates are at an all-time low. If you’ve been shopping around for rates or considering a home purchase, now might actually be the best time. If you have a home in mind already, you’re ahead of the game, and we can get the process moving right along for you.

If you choose a fixed rate option, you can lock in a low rate for the length of your loan term. Locking in a low rate on a mortgage or any kind of home loan can save you thousands of dollars in the end. If you’re currently paying a higher rate, refinancing might help you lock in a lower rate, which could lower your payments and save you money on interest. So, even if you aren’t looking to build or purchase a home, there might be an opportunity to help your current financial situation.

With rates as low as they are for all kinds of mortgage loans, now might be the perfect opportunity for many people to purchase or build their dream home. If you’re exploring one of these options, it’s best to discuss your specific situation and your goals with a professional. You may not have another opportunity to take advantage of such low rates in the future.

At Citizens Savings Bank, we also offer FHA and VA mortgage loans, so if you qualify for one of these programs, you may be able to take advantage of additional options. With a variety of different programs available and the current rates being so low, now might be the best time to speak to someone about getting started.

If you’re ready to speak to someone today, you can reach out directly to our Mortgage Specialist, Bill Johnson. He can be reached directly at (570) 313-3817 or at [email protected].

Learn More

Citizens Savings Bank has multiple locations throughout Lackawanna, Wayne, and Monroe Counties. For branch locations and hours, visit our website. We also have a Customer Support Team ready to answer any questions you may have. Call us today at 1-800-692-6279 or email [email protected]. Member FDIC.