Line of Credit Rates
Please contact us at (800)336-6116 for current rates.
You must pay certain fees to third parties, such as appraisers, credit reporting firms, and government agencies. These fees generally total $660.00 to $4,500.00. If you ask, we will provide you with an itemization of the fees you will have to pay to third parties. We pay all closing costs for loans $7,500.00 - $300,000.00. For loans greater than $300,000.00 - $424,100.00, the following is paid by the customer: appraisal amount above standard ($225), mortgage tax above $3,000.00 and non-standard fees for a HELOC such as attorney fee or title insurance. You must reimburse closing costs if the loan is paid off within 3 years.
Maximum loan amounts are based on equity in home. Loans can be approved up to 85% of appraised value less outstanding liens if first lien is held by Lake Shore Savings or there is no mortgage on property. Loans may be approved up to 80% of appraised value less outstanding liens if the first mortgage is held elsewhere.
Please call the nearest location for information on floor rates, ceiling rate and additional information.