Consumer Loan Application

Mortgage Loan Pre-Qualification
 

• Auto
• First Mortgage Rates
• Second Mortgage Rates
• Construction Loan Rates
• Rates for 1 - 4 Family Non Owner Occupied property

 Auto
We offer a variety of terms and Annual Percentage Rates (APRs), the following represents a sample:

RVS/TRAVEL TRAILERS/BOATS/MOTORCYCLES

Age	Term	Rates as Low As	APR	Payment per $1,000
NEW: Up to	60 Months	7.74%	8.15%	$20.15
USED: Up to	60 Months	8.24%	8.65%	$20.39

*Rates and APRs are based on a $10,000 loan amount and include a $95 document preparation fee.  In order to obtain these rates, you must have a credit bureau score of 740 or greater, an LSB deposit account, and the payment automatically withdrawn from an LSB deposit account. Factors such as credit worthiness, term of loan, relationship with LSB, and method of payment determine if your interest rate will be higher. Lower rates may be available with shorter terms.

 

First Mortgage
Rates are subject to change without notice.

We can help you pre-qualify for a mortgage loan!
Click here to be pre-qualified.

Fixed Rate:

Servicing Retained

Term	Rate*	APR*	Payment per $1,000
15 Year	4.375% + 0 pts	4.490%	$7.59
20 Year	4.875% + 0 pts	4.960%	$6.53
30 Year	5.125% + 0 pts	5.190%	$5.44

*Rate and Annual Percentage Rate (APR) are based on a loan amount of $100,000.

Servicing Released

Term	Rate*	APR*	Payment per $1,000
15 Year	4.250% + 0 pts	4.390%	$7.52
20 Year	4.750% + 0 pts	4.870%	$6.46
30 Year	4.875% + 0 pts	4.970%	$5.29

* Rate and Annual Percentage Rate (APR) are based on a loan amount of $100,000.

  FHA

Term	Rate*	APR*	Payment per $1,000
30 Year	5.000%	5.050%	$5.37

*Rate and Annual Percentage Rate (APR) are based on a loan amount of $100,000.

 

Variable Rate:

Adjustment Frequency	Rate**	APR**	15 year term repayment ***	30 year term repayment ***
1 year	6.000%	4.925%	$8.44	$6.00
3 year	6.250%	5.085%	$8.57	$6.16
5 year*	7.250%	7.350%	$9.13	$6.82
7 year*	7.500%	7.610%	$9.27	$6.99

* Fixed for 5 or 7 years, adjustable annually thereafter

** Rate and Annual Percentage Rate (APR) are based on a loan amount of $100,000 with a down payment of 20% and 30 year amortization, private mortgage insurance (PMI) may be required for down payments less than 20%.  Payment terms of 15-30 years are available.  Rate can change after consummation.

*** Repayment amounts are based on $1,000 loan amount

 

Second Mortgage Rates

Fixed Rate, terms up to 15 years:

Term	Rate	APR*	Payment per $1,000
5 years	6.24%	6.55%	$19.44

*The Annual Percentage Rate (APR) associated with this loan is fixed.  The APR will be determined based on a minimum 740 credit score (Beacon) and maximum loan to value of 80%.  If there is more than one borrower, the average credit score used will determine the APR.  Rates can be lowered .25% with automatic payment from a Lafayette Savings Bank deposit account.  There will be a $350.00 early payoff fee if you pay off prior to 36 months. Loan processing fee of $195.  Equity loans are also subject to acceptable property appraisal and title search and are for loans $50,000 and over.  Rates are subject to change. 

 

Variable Rate - Equity line of credit:

Prime Rate: 3.25%

We offer a variety of terms and Annual Percentage Rates (APRs), the following represents a sample.

*Interest rates shown are the lowest rates Lafayette Savings Bank offers.  In order to obtain the lowest rates, you must have a credit bureau score of 740 or greater, a Loan to Value of 80% or less, and a loan amount of $5,000 or more. Loan processing fee of $195. There will be a $350.00 early payoff fee if you pay off prior to 36 months. There is also a $50 annual fee to be waived the first year.

 

Construction Loans

Fixed Rate:

Term	Rate*	APR*	Payment per $1,000
30 year	6.000% + 1/2 pt	6.146%	$6.00

* Rate and Annual Percentage Rate (APR) are based on a loan amount of $100,000 with a down payment of 20%, and a credit bureau score of 680 or greater. An independant general contractor must be used.

 

Variable Rate:

Term	Rate*	APR*	15 year term repayment **	30 year term repayment **
3 year	7.000% + 0 pts	7.121%	$8.99	$6.65
7 year	7.500% + 1/2 pt	7.317%	$9.27	$6.99

* Rate and Annual Percentage Rate (APR) are based on a loan amount of $100,000 with a down payment of 20% and 30 year amortization, private mortgage insurance (PMI) may be required for down payments less than 20%.  Payment terms of 15-30 years are available.  Rate can change after consummation.

**Repayment amounts are based on $1,000 loan amount

 

1 - 4 Family Non -Owner Occupied
Fixed Rate

Term	Rate	APR
15 year	4.625% + 1 3/4 pts	5.000%
20 year	5.125% + 1 3/4 pts	5.430%
30 year	5.250% + 1 3/4 pts	5.480%

Lafayette Savings Bank is a community bank,
lending to residents of Tippecanoe County and contiguous counties.