Automobile Loans
Availability:
Automobile loans are available to any person 18 years or older to use for purchase or refinancing an automobile. RV's would also be included under the Automobile loan.
Maximum Loan Amount:
New automobiles can be financed for 90% of the sales price (not including taxes). Used automobiles can be financed to the 'Average Loan Value' or 'Low Book Value' as indicated in the 'NADA Used Car Guide'.** N.A.D.A. Guide
Benefits:
- Quick approval and disbursement of funds.
- No penalty charge if the loan is repaid early.
- 5 year term for new and used cars.
- 6 year term for new cars with a loan amount of 15,000.00 and over.
- .25% discount on rates if payment is transferred monthly from any Checking or
Savings account.
*All Loans Subject to Normal Underwriting Approval*
**Disclaimer: Using the links above marked with "**" will cause you to leave Investment Savings Bank's web site and go to a web site maintained by others. You will be linking to an alternate web site that is not operated by Investment Savings Bank. Investment Savings Bank is not responsible for the content of the alternate web sites and does not represent either the third party (the owner of the alternate website) or you, the customer, if the third party and the member enter into a transaction. Investment Savings Bank has no control over nor responsibility for the content, products and services provided by the alternate web sites. Investment Savings Bank is not endorsing or guaranteeing the products, information or recommendations provided by the alternate web sites and is not liable for any failure of products or services advertised on those sites. The privacy and security policies of the third party may differ from those practiced by Investment Savings Bank. Investment Savings Bank appreciates feedback on your experience with the third parties that are listed here. Feel free to call Investment Savings Bank at 814-944-0843 or email us at Online_Banking@InvestmentSB.com.
Home Equity Line of Credit
Availability:
Home Equity Line of Credit Accounts are available to any person 18 years
or older to use for personal, family, or household purposes. They are
secured by your real estate and the amount available is based on
the equity in your home.
Maximum Loan Amount:
80% of the appraised value of the property less amount owed on mortgage
Uses:
Recurring expense such as Education and Home Improvements. Also,
uses for Bill Consolidation, Vacation and Major Purchases (Automobile,
Boat, or Appliances).
Benefits:
- Low closing costs.
- Variable interest rate.
- Interest may be tax-deductible. Consult you tax advisor.
- Access line by writing a check.
- Decrease in monthly payment as outstanding balance decreases. (Monthly Payment is 1.25% of outstanding balance). Minimum Payment $50.00
- No penalty charge if loan is repaid early.
- As payments are made, funds become available to use again.
*All Loans Subject to Normal Underwriting Approval*
Home Equity Loans
Availability:
Home Equity Loans are available to any person 18 years or older to use for personal, family, or household purposes. They are secured by your real estate and the amount available is based on the equity in your home.
Maximum Loan Amount:
- 85% of the appraised value of the property less amount owed on mortgage.
- 60% of the appraisal value of property less amount owed on mortgage for non-owner occupied Real Estate (Rental or Second Home).
Uses:
A one time expense such as Home Improvements, Major Purchases
(Boat, Automobile or Appliances), Debt Consolidation, Vacation and Higher Education.
Benefits:
- Low closing costs.
- Fixed rate for life of loan.
- Interest may be tax-deductible. Consult your tax advisor.
- Lower interest rate compared to other types of loans.
- No penalty charge if the loan is repaid early.
- Extended term to 20 years.
- .25% discount on rate if payment is transferred monthly from any Checking
or Savings account.
*All Loans Subject to Normal Underwriting Approval*
Personal/Unsecured Loans
Availability:
Personal Loans are available to any person 18 years or older to use for personal, family, or household purposes
Uses:
A one time expense such as Home Improvements, Major Purchases
(Boat or Appliances), Debt Consolidation, Vacation and Higher Education.
Benefits:
- No closing costs.
- Quick approval and disbursement of funds.
- Select terms you are comfortable with.
- Lowering of total monthly obligations with a Consolidation Loan.
- No penalty charge if the loan is repaid early.
- .25% discount on rate if payment is transferred monthly from any Checking
or Savings account.
*All Loans Subject to Normal Underwriting Approval*
Second Mortgage with a LTV of up to 90%
Availability:
Second mortgage with a LTV (Loan to Value) ratio of 90% is available to any person 18 years or older and offered in conjunction with the ISB purchase money mortgage.
Maximum Loan Amount:
90% of the lesser of the sale price or mortgage appraisal.
Uses:
A one time expense - down payment for purchase of home.
Benefits:
- No need for Private Mortgage Insurance on the first mortgage which results in a lower mortgage payment.
- Fixed rate for life of loan.
- Interest may be tax-deductible. Consult you tax advisor.
- No penalty charge if the loan is repaid early.
- .25% discount on rate if payment is transferred monthly from any Checking
or Savings account.
*All Loans Subject to Normal Underwriting Approval*
Unsecured Line of Credit/Overdraft Protection
Availability:
Personal Unsecured Line of Credit Accounts are available to any person 18 years or older to use for personal, family or household purposes.
Uses:
Overdraft Protection, Home Improvements, Major Purchases
(Boat, Automobile or Appliances), Bill Consolidation, Vacation
and Higher Education.
Benefits:
- Avoid the $32.00 NSF Charge.
- Avoid the embarrassment of overdrawing your checking account.
- Peace of mind knowing you are protected in case you accidentally make an error in your checkbook.
- Variable interest rate.
- Decrease in monthly payment as outstanding balance decreases. (Monthly Payment is 3.00% of outstanding balance. Minimum Payment $25.00)
- Access line by writing a check or by using ISB's VISA check card.
- As payments are made, funds become available to be used again.
- Quick approval.
- No closing costs.
*All Loans Subject to Normal Underwriting Approval*
