Mortgages

Community's mortgage options always keeps the buyer in mind.

Community offers a variety of fixed rate loans to purchase a home or refinance your mortgage. Now Community also offers a mortgage calculator to help you find which mortgage plan is best for you.

There are many advantages of a mortgage at Community:

• You pay the same rate over the life of the loan.
• No teaser rates or rate increases that can be found with an adjustable rate loan.
• Principle and Interest payments never vary.
• A "Zero Points" option saves on closing costs.
• For lower down payments, consider a CHOP loan.

All loans subject to underwriting standards of Community Savings Bank.

15-Year Mortgages*

Consider the benefits!

• Save thousands in interest
• Build home equity faster
• Get a lower rate than a traditional 30 year mortgage

* For example: a $100,000 loan with a term of 15 years will have 180 monthly payments of $745.97 with a corresponding Annual Percentage Rate (APR) of 4.285%. A $100,000 loan with a term of 30 years will have 360 monthly payments of $529.21 with a corresponding APR of 4.963%. Minimum down payment for both loans is 20%. Example as of 01-05-2012

Fixed Rate Mortgages

Community offers customers fixed rate mortgages so they are assured their principal and interest payment will never change.

Zero Points Mortgages

To help keep buyers' "up front" costs low, Community offers Zero Points Mortgages and participates in a number of home ownership programs. See one of Community's knowledgeable Loan Officers for details.

Multi-Family Loans

Community also makes loans on multi-family residential properties. Great terms and rates are available. Call Art Neville for more information.

  

Pay-O-Matic, Save ¼%

Community's Pay-O-Matic program saves 1/4% off your interest rate.

Community's Pay-O-Matic Loan is a convenient and economical way to make your mortgage payments.

Save 1/4% on the interest rate of your mortgage loan.

Have your monthly mortgage payments transferred directly from your NOW Checking account.

Simply maintain a $1,000 balance in a NOW Checking account. Your monthly NOW statement shows when each transfer was made. At the end of the year, you receive a complete record of the loan account activity including payments and interest charges.

To arrange for Pay-O-Matic, talk with a Community Loan Officer. Stop in or call 773-685-5300.

 

Chop Loans

Community's Home Ownership Program (CHOP) can help many families realize their dreams.

Saving for a high down payment requirement is one of the most difficult parts in buying a home.

With CHOP*, qualified applicants can buy a home with a low down payment and a fixed interest rate.

• More people can buy homes that once were out of reach.
• One and two flat properties are eligible.
• Can be written by Community Savings Bank as a "zero points" for lower closing costs. Income and loan caps apply.

 

For more information about Community's lending products please call or see one of our loan officers during regular business hours at (773) 685-5300.

*All loans are subject to the underwriting standards of Community Savings Bank.