Lending Options to Fit Your Life
With a variety of loans available and on-site loan specialists, we’ll help you understand your options and determine the loan that’s best to fit your needs. Click here to see our current rates.
At Lake Shore Bank, we offer:
When it comes to buying your home, there are various financing options available to you today, but few financial institutions can offer the wide variety of choices that Lake Shore Bank offers. You’ll enjoy quick underwriting, fast approval and low rates on conventional fixed rate and adjustable-rate mortgages.
A Variety of Mortgage Options
- An excellent way to lock in a low interest rate for the life of your loan
- Multiple repayment terms available to fit your financial needs
- Interest rate remains the same for the life of the loan
- An ideal option for people who like payment stability
Construction loans are for:
- Building your future dream home
- Land on which you want to build must be owned
- Funds are dispersed as construction milestones are met
- Interest-only payments on dispersed funds during the construction period
- At the end of the construction period, loan automatically converts to permanent financing
- Perfect for those borrowers who might only stay in their home for a short time
- The low interest rate is locked for a set period and then it will be adjusted annually
- Able to lock the rate for 1 year, 5 years or 7 years
- Can use the funds not needed for your mortgage payment to pay college expenses or pay down other debt
- Great for someone with limited funds to purchase a home
- No down payment required; you can finance up to 101% of the value of the home
- Can only be used for single-family homes
- Must be located in a rural market, which could be the outskirts of any city
If you’re not sure which loan is right for you, or if you have questions, please call or stop in to your local Lake Shore Bank branch. We will be happy to help you determine the loan that best fits your financial needs.
If you have built up equity in your home, borrowing against it has rarely been more favorable. With our “All in One” Home Equity Loan, you have a line of credit available where payments are only calculated on the portion you actually use; you also have the option to fix a portion or all of your line into a fixed-term loan with a fixed rate. A clear advantage of this is that as you pay the term loan balance down, the funds become available to be reused on the line of credit.
Whether you are consolidating debt, paying tuition expenses, remodeling the kitchen or taking that well deserved vacation, look no further. Borrow only the amount you need and only pay interest and principal on the amount you borrow. Or get the money you need all at once; either way you will enjoy:
- Fast and easy application process
- No application fees
- No closing costs
- No points
- No annual fees
For individuals interested in applying online today for a home equity loan, please click the link below to be taken to our online application.
Go to our Online Mortgage Center to get started.
Lake Shore Bank can help you get the extra money you need. Whether you would like to consolidate debt, make home improvements or buy a new car, we have the financing options you need at a rate you can afford.
Our loan options include:
- Auto loans
- Secured and unsecured consumer loans
- Home improvement loans
- Overdraft lines of credit
If you have questions, please call or stop in to your local Lake Shore Bank branch. We will be happy to help you!