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.

At Lake Shore Savings, 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 Savings offers. You’ll enjoy quick underwriting, fast approval and low rates on conventional fixed rate and adjustable rate mortgages.

Lake Shore Savings’ Variety of Mortgage Options

This is an excellent way to lock into a low interest rate for the life of your loan. Our fixed rate mortgages have multiple repayment terms to fit your needs. The interest rate and monthly payment remain the same for the entire term of the loan. This option works well for people who like total payment stability.

We also have:

  • No Closing Cost Mortgage
  • Construction Mortgages
  • SONYMA – First Time Home Buyer Program
  • USDA Rural Development Guaranteed Programs

As a member of the Federal Home Loan Bank, Lake Shore Savings is able to provide qualified first-time homebuyers with a grant of up to $7,500. In order to participate, you must meet income eligibility requirements. An onsite Loan Originator will be able to assist you in determining if you meet these eligibility requirements.

Here’s how it works:

  • Once we have determined you qualify for the program you will set up a savings account where you will make monthly deposits. For each $1 you deposit, there will be a match of an additional $4 up to a maximum of $7,500.
  • You’re allowed to deposit monies into your designated savings account for at least 10 months, but no more than 24 months. These funds plus the grant monies are to be used toward your closing costs or down payment. If you withdraw any funds from this savings account you may be disqualified from receiving the grant.
  • During the home buying process, you will be required to work with one of our Lake Shore Savings-approved banking counseling agencies that will help you understand the home buying process. They will cover areas such as budgeting, saving, choosing a home, applying for a mortgage, understanding legal requirements and more.
  • Once you close on your home loan, you will make your regular loan payments to Lake Shore Savings. You must stay in the home for at least five years or will be required to return all or a portion of the grant monies you received.

For more information about the First Home Club with Lake Shore Savings, stop in or give one of our onsite Loan Originators a call.

Lake Shore Savings has several adjustable rate mortgage programs. We offer a 1-year ARM, a 5-1 ARM and a 7-1 ARM where the loan would remain fixed through that period.

Who might be good borrowers for ARMs?

  • Do you plan to remain in your home for only a short time? If you will be in your house for less than five years, you will probably save money by opting for the ARM. The total cost will be less than that with a fixed rate.
  • Do you expect your income to increase later and you want to qualify for a larger loan now? A lower initial interest rate, compared to those of fixed-rate mortgages, may mean lower payments. This might help you qualify for a bigger loan and a more desirable home than you would normally.
  • Want a short-term boost to finances? The money you save with adjustable rate mortgages each month could be directed toward investments, college savings, retirement, home expenses and more.

Freddie Mac Home Possible® mortgages offer outstanding flexibility and options to meet a variety of your lending needs. With Home Possible and Home Possible Advantage, you can fulfill your desire to have a home to call your own. This program offers you the ability to buy a home with a low down payment and flexible sources of funds.

Home Possible mortgages provide you with:

  • A low down-payment option
  • Stable monthly mortgage payments with fixed-rate mortgages
  • Flexible closing cost funding options
  • Reduced mortgage insurance coverage costs

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 Savings 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 Savings 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 Savings branch. We will be happy to help you!

Simply Rewards™ VISA® Credit Card

Your life. Your Choice.
Earn more rewards for all your everyday purchases.¹

3X points on …
  • Grocery stores
  • Discount stores
  • Gas stations
  • Restaurants and fast food
1X points on …
  • All other purchases
We Make it Easy to Redeem Points

Access your account to see how many points you’ve earned through online banking or your monthly statement at www.cardcenterdirect.com.

Redeem your reward points for account credits, gift cards, travel, entertainment and more.¹

Additional Visa Benefits

Fraud ProtectionVisa’s Zero Liability Policy means you won’t be held responsible for any unauthorized charges made with your card or account information.²

Others
Including auto rental coverage, emergency cash, travel/emergency assistance, warranty manager and more.³

Online Credit Card Control 

APPLY ONLINE

Cardholder Self-Service Contacts:

If you have questions, please call or stop in to your local Lake Shore Savings branch. We will be happy to help you!

Online Account Access – www.cardcenterdirect.com
Rewards Points Redemption – www.cardcenterdirect.com
Customer Service – (800) 821-5184

Cards issued by UMB Bank, n.a.
¹Cardholders earn 3 points per dollar on purchases with MCC codes: 5411 (Grocery Stores), 5541 or 5542 (Gas), 5310 (Discount Stores), 5812 (Restaurants) and 5814 (Fast Food). Cardholders earn 1 point per dollar on all other purchases. See Simply Rewards Rules for details.
²Visa’s Zero Liability Policy covers U.S. issued cards only and does not apply to certain commercial card transactions. You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.
³See the Rewards Rules and Guide to Benefits that accompany your card for details. Certain terms and conditions may apply.

Let's Get Started

Have you found a home you're interested in? Apply now or crunch some numbers to see what your mortgage could look like!