At Citizens Savings Bank, we believe everyone deserves the security and comfort of homeownership. That’s why we offer so many ways to finance your new home, from fixed rate mortgages to First Time Home Buyer programs. Already a homeowner? Lower your mortgage payments with our flexible refinancing options. Stop dreaming, start decorating — get in touch with one of our friendly lenders today!

Summary
  • Competitively low mortgage rates for home purchase, refinance, or construction
  • Available for primary residence, second homes, or non-owner occupied properties
  • Save money up front with zero point mortgages
  • Rate reduction of 0.25% for setting up payment through Citizens Savings Bank deposit account
  • Flexible terms customized to your unique situation
  • A wide range of financing programs available, including:
    • Fixed rate mortgages
    • Adjustable rate mortgages (ARMs)
    • First Time Homebuyer specials
    • Construction loans
    • And more!
  • Helpful loan advisors with working knowledge of the local real estate market
  • Refinance your current home to potentially lower your rate
  • Local NEPA decision-making and processing
  • Attentive, friendly service from start to finish

Learn More

Have questions about financing your first home? Check out our Home Loan Resources for answers to common questions, information about how service members can save, and more.

Financing Options

Fixed Rate Mortgages

Make balancing your budget easier. Keep your interest rate and payments the same throughout the life of the loan with a fixed rate mortgage from Citizens Savings Bank. We offer up to 30-year terms to fit your financing needs.

Adjustable Rate Mortgages (ARMs)

Our adjustable rate mortgages (ARMs) offer one, three, and five year adjustment periods with terms up to 30 years. Your monthly payment may increase if the interest rate rises, or decrease if the interest rate falls. Your loan will be subject to rules that limit the amount of these increases or decreases.

  • Maximum rate change per adjustment period = 2%
  • Maximum rate change over life of loan = 5%
  • Adjustable Rate Mortgage (ARM) Index = one year Treasury Index + 2.75%
  • Adjustment periods:
    • 1/1 ARM – fixed rate for one year; adjustable rate every year thereafter
    • 3/1 ARM – fixed rate for three years; adjustable rate every year thereafter
    • 5/1 ARM – fixed rate for five years; adjustable rate every year thereafter

Bi-Weekly Mortgages

Pay off your mortgage early and save on interest with a bi-weekly mortgage from Citizens Savings Bank. By making payments every 14 days, you can pay off a 30-year loan in about 23 years. Enjoy the same rate as our monthly Fixed Rate Mortgage. Auto-payment from a Citizens Savings Bank checking or savings account is required to take advantage of this financing option.

Non-Owner Occupied Mortgage Loans

We offer financing for the purchase or refinance of one to four-family, non-owner occupied residential properties. Fixed or adjustable-rate options are available.  The maximum term is 20 years, with a maximum loan-to-value of 67%.

First Time Homebuyer Programs

Citizens Savings Bank participates in several First Time Home Buyer programs, including the First Front Door Program (FFDP) provided by the Federal Home Loan Bank. The FFDP meets the needs of low-income, first time homebuyers by offering down payment and closing cost assistance. Visit the Federal Home Loan Bank website for more information.

  • First Front Door Program (Federal Home Loan Bank)
  • The City of Scranton’s First Time Homebuyer Program
  • Lackawanna County’s First Time Homebuyer Program
  • Monroe County’s First Time Homebuyer Program

Refinancing

Find financial relief. We know circumstances in your life can change. What was once a doable budget can become unbearable. We’ll help you find financial relief any way we can, from lower payments, to renegotiated rates. Make your home more than a monthly expense — talk to one of our lending experts to find the financing plan that works for you. 

Potential Benefits

  • Rate reduction of 0.25% for setting up payment through Citizens Savings Bank deposit account
  • Flexible terms tailored to fit your budget
  • Lower monthly principal and interest payments
  • Moving from adjustable to fixed rate
  • Lower interest rate
  • Using home equity to consolidate debt or pay for home improvements

Find the Right Time to Refinance

There are many factors to consider when deciding to refinance. You should review your existing interest rate, the current interest rates available, closing costs, and how long you plan to stay in your home. Contact one of our lending experts to see if now is the time for you to refinance.