Mortgage Loans HFS can help you purchase, build or refinance a home. We are committed to providing our customers with the finest in mortgage services, and offer conventional, residential, FHA and many other loan programs to meet your housing needs. Fixed Rate Mortgages With a fixed rate mortgage, you'll know exactly what your principal and interest payments will be when the interest rate is locked in. The 30 year fixed rate mortgage offers lower monthly payments and provides substantial long-term tax advantages. The 10 and 15 year fixed rate mortgages build up your equity quickly and you can save substantial interest over the life of the mortgage. All fixed rate mortgages offer a constant principal and interest payment for the term of the loan. Example: Based on $50,000 for 360 months at 6.00% APR, monthly principal and interest payment is $299.78. Check out the rates. Adjustable Rate Mortgages Adjustable rate mortgages (ARMs) offer a lower initial interest rate than a fixed rate mortgage, providing lower interest costs in the early years of the loan. Rates change periodically, depending on an index, and payments can increase or decrease. Interest rate caps are established to protect you from a substantial rise in interest rates. HFS offers adjustable rate loans with 1 and 3 year adjustments. HFS also offers 5 and 7 year ARMS, loans amortized over 30 years and fixed for the first 5 or 7 years, after which the rate adjusts annually. Check out the rates Mini-fixed Balloon Loans These loans offer the lowest rate for a 30 year amortization. Payments are amortized over 30 (or 15) years, but are made at an unchanging rate for 5 or 7 years. The entire balance is then due or the loan can be modified for the remaining term for a minimal modification fee. Check out the rates Construction Loans HFS offers one-close Construction Loans at the current rates during the construction period. The normal commitment time is 6 months from the time of application, and the loan is modified at completion at the current interest rate (not to exceed the Construction Loan rate). Interest on the Construction Loan is paid monthly. Lot Loans Lot Loans are available for the purpose of purchasing a residential lot when the intent of the borrower is to build their primary residence on the lot. The lot must be located in residential subdivisions in which all of the improvements have been made. Jumbo Loans HFS offers Jumbo loans (those in excess of $417,000).  These loans are available for single family, owner occupied properties. Contact Mortgage Loan Specialist Kevin Comerford at 219-263-9754 or 219-764-0757, ext. 20. HFS Home Equity Loans Pay off high interest charge cards, home improvement, school expenses, travel, automobile purchases, wedding expenses, investments...the list of reasons for borrowing can be unlimited. Using the equity in your home may be a wise choice. Not only are interest rates on home equity loans usually lower than ordinary installment loans, the possible tax benefits add to the bargain. (Consult a tax advisor regarding the deductibility of interest.) 100% financing is available. Fixed Rate Equity Loans By choosing our fixed rate equity loan, you will know exactly what your interest rate will be for the term of the loan and the balance will be paid at maturity. Terms up to 25 years are available to lower the monthly payment. Example: Based on $10,000 for 120 months at 7.75% APR, monthly principal and interest payment is $120.01. Check out the rates HFS Home Equity Line of Credit Easy access to your credit line is one of the reasons for choosing the HFS Home Equity Line of Credit Loan. Once your credit line is established, you can draw on it as needed by using the special checks we provide for you ($100 minimum). The interest rate for the credit line is a variable rate based on the "Wall Street Journal" prime rate and may change monthly. Fixed rate line of credit loans are also available. As you repay the amount you owe, your credit line is again available for future use. A monthly statement will detail all the loan activity on the account. If only the minimum monthly payment is made, a balloon payment may result. Maximum APR is 21%. Check out the rates Auto Loans HFS has a number of fixed and variable rate auto loans available. Competitive rates and personal service contribute to the advantages of an HFS auto loan. You can choose to have your auto loan payment automatically deducted from your HFS Checking Account, or you can mail, pay online or bring in the payment to any HFS office. Also available at HFS: mobile home loans, RV, camper and boat loans, personal (secured and unsecured) loans and overdraft protection loans. Business Solutions Welcome to the Business Banking Center! We At Business Banking we are committed to finding solutions to your unique financial needs. We work with lenders and multiple business funders who can provide cash advance on your accounts receivables. These quick cash funding solutions allow you to get funded with little paperwork other then recent HFS Bank statements (4 months). We are committed to listening and learning about your business before we offer solutions. Our products include: Commercial Real Estate Mortgages Growing your business often means expanding or even purchasing new facilities. HFS has been offering commercial real estate loans for many years. Our experienced staff will work with you to structure a deal consistent with your business' cash flow. Lines of Credit As a business person, you may find times in your business cycle where your capital resources are not being collected quickly enough to meet your capital needs. HFS Bank can offer solutions, such as lines of credit, that are designed specifically for your situation. Merchant Cash Advance To get quickly funded we use proven funding relationships with MCA lenders such as CitiWide, NYMCA Advance and Green Capital Credit. Our long standing relationships with these funders allows us to get your business quickly funded including same day funding for small businesses. Youll need to provide 4 months of your HFS checking account statements, an ID and voided check for rapid funding. Installment and Term Loans To meet the challenge of expanding your business, HFS offers long term financing options such as installment and term loans so that your business can become more efficient and profitable. Whether you want to purchase new equipment, expand your working capital base or buy out another business, HFS is there to help. Letters of Credit Trading with non-local business can offer unique challenges. To help take the difficulty out of these transactions, HFS Bank offers Letters of Credit to help facilitate trade. Our Business Banking staff looks forward to meeting with you and having the opportunity to service your financial needs. To schedule an appointment, please call Dick Sauerman at 219-942-1175.