Get extra funds without working overtime. From daily chores to major renovations, you put a lot of work into your home. Use that sweat equity as collateral to secure a loan or line of credit. Competitive rates ensure you won’t break the bank, and the interest you pay may even be tax deductible!* Take care of a variety of one-time or ongoing needs, including home improvements, debt consolidation, education expenses, and more! 

Summary

Home Equity Loans

  • Competitive rates for several short-term or one-time needs:
    • Education expenses
    • Major life events
    • Home remodel projects
    • Debt consolidation
    • And much more!
  • Use existing equity in your home as collateral backing
  • Accommodating repayment terms ranging from one to 15 years
  • The interest paid might be tax deductible*
  • Local decision-making and processing
  • Helpful, customized service throughout the entire process
 

Home Equity Lines of Credit

  • Competitive rates for several ongoing or seasonal needs:
    • Education expenses
    • Major life events
    • Major home improvements
    • Debt consolidation
    • Emergency reserve
    • And much more!
  • After introductory period, your rate reverts to the higher of our current floor rates or the prevailing prime rate
  • The existing equity in your home is used as collateral backing
    • Equity can come from owner occupied and non-owner occupied homes
  • Accommodating repayment terms ranging from one to 15 years
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit – as principal is repaid, more becomes available to use
  • Funds easily available via in-person or phone transfers to a specified Citizens Savings Bank checking account
  • The interest paid might be tax deductible*
  • Payments recalculated monthly based on outstanding balance
  • Local decision-making and processing
  • Helpful, customized service throughout the entire process
2 Enjoy a rate as low as 1.99% APR for the first 6 months and a rate of 4.25% APR afterwards on our Home Equity Line of Credit with No Bank Fees. Annual Percentage Rate (APR) is variable and will be based on the Prime Interest Rate or the floor rate which is greater. The interest rate will not exceed 11.75% or fall below 4.25%. Minimum line amount of $5,000.00 and maximum loan to value ratio is 80%. Offer can be modified or discontinued at any time. No bank fees on owner occupied properties except the cost of recording the mortgage. If the line is closed within 24 months of the origination date, the borrower agrees to repay Citizens Savings Bank for all third-party origination fees paid. Consult a tax advisor regarding deductibility of interest. Introductory Annual Percentage Rate will be in effect for the first six months.

*Consult a tax advisor.