CSS has the resources, flexibility and experience you need to make a good choice in mortgage financing. Whether you are purchasing your first home, renovating an existing home or building your dream home, CSS offers a wide range of mortgage financing options.
- Downpayment Options as low as 5%
- Flexible Terms
- Fixed and Adjustable Rates
- Jumbo Mortgage Financing
Fixed Rate Mortgages:
- Enjoy the security of knowing your rate and mortgage payment will remain the same for the life of the loan
- Competitive Rates
Adjustable Rate Mortgages (ARMs):
- Perfect for individuals planning on staying in their current home a short time
- Initial Rates are lower than Fixed Rate products
- Flexible Terms with 1,3,5 and 7 year ARMs available. Payments and rates adjust annually after the initial 1,3,5 or 7 year period.
- All ARMs have a 2% / 6% rate cap feature. The annual payment cannot increase by more than 2% each adjustment period and the rate cannot increase more than 6% over the life of the loan.
Refinance Mortgages:
- Cash out and No-Cash out programs available
- Lower your current interest rate
- Lengthen or shorten the term of your current interest rate
- Fixed and ARM Products Available
Construction to Permanent Mortgages:
- One Closing. No need to sign additional papers or apply for financing once construction is completed
- Interest only payments during construction up to 12 months
- Fixed, ARM and Jumbo Programs available
- Permanent finance rate is locked in simultaneously with construction financing
Land Loans:
- As little as 25% down
- Approved building lots only
- Fixed Rate and ARM programs available up to 20 years
Jumbo Mortgages
A jumbo mortgage is any loan exceeding the government loan limits for a specific area. Loan limits vary within the State of Connecticut, but a loan which exceeds $417,000.00 for single unit properties is typically considered a jumbo mortgage. Collinsville Savings Society is pleased to offer these loans to qualified borrowers. Please call Lori Heath at 860-693-6936 for more information.
Home Equity Loans and Home Equity Lines of Credit are the most versatile financial tools available to homeowners. Unlock the equity in your home for virtually any purpose whether you need to pay tuition, improve your home, make major purchases or consolidate debt.
- Up to 80% Total Loan to Value up to $150,000
- Up to 75% Total Loan to Value for loans in excess of $150,000
- No closing cost programs available
Home Equity Loans:
- Perfect for individuals desiring monthly payments of principal and interest
- Fixed Rates and ARMs available
- No closing cost programs available
- No annual fee
Home Equity Lines of Credit:
- Variable Rate based on the Wall Street Journal Prime Rate*
- Borrower can draw funds for a period of 9 years 9 months with interest only payments monthly
- Loan automatically converts to a fully amortizing 15 year ARM**
- No Closing Costs***
- Annual Fee applies
*Rates may change daily; maximum APR 18%
**One Year ARM program with payments and rates adjusting annually; maximum APR 18%; minimum APR 3.75%
***If full appraisal is required, borrower will be responsible for the fee
CSS offers a wide range of secured and unsecured consumer loan products for a variety of purposes. Our rates and terms are competitive.
Personal Loans:
- Loan amounts from $1,000 to $5,000
- Fixed rates available
- Monthly payments of principal and interest
- Unsecured
Auto Loans:
- 20% down payment required
- Purchases of new and used vehicles
- Fixed rates available
- 60 month financing options available on new vehicles, up to 36 months on used vehicles
Motorcycle Loans:
- 25% down payment required
- Purchases of new and used vehicles
- Fixed rates available
- 48 month financing options available on new motorcycles, up to 24 months on used motorcycles
Collateral Loans:
- Loans up to 90% of a CSS savings account or CSS certificate of deposit account (non-IRA)
- Loans up to 65% of market value of stock held as collateral
- Accounts continue to accrue interest during term of loan
