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The Berlin City Bank LogoConsumer Loans

The right loan at the right rate ... with a local decision made right away.

 

Consumer Loans

All of us can use a little extra money now and then, and The Berlin City Bank offers loans for just about any worthwhile purpose.  Maybe you're buying a new home or fixing one up.  Perhaps it's time for a new car, or you're sending the kids off to college.  Whatever your financial needs may be, BCB has a loan that's right for you.

 

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Home Mortgages

 

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Fixed-Rate Mortgages

 

As the name implies, fixed-rate mortgages let you "lock in" to an interest rate, so your

payment (interest and principal) stays the same for the life of the loan.  This way, budgeting

is easy; you'll always know what to expect for a payment.  Fixed-rate mortgages tend to be

most popular during the times of low interest rates, or when you believe rates may rise in the

 future.  Fixed-rate mortgages are also preferred by people who expect to live in their new 

home for more than a few years.  We offer a variety of fixed-rate home mortgage options to

 qualified home buyers - and we can help you choose the loan that's right for your situation.

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Adjustable-Rate Mortgages

 

Unlike fixed-rate mortgages, adjustable-rate mortgages (ARMs) have an interest rate that is 

adjusted up or down depending on changes in the prevailing rates over time.  Most ARMs 

have limits, or "caps," that restrict how much a rate can be adjusted.  ARMs are most 

popular with people who expect to be in a new home for only a few years and those 

who believe interest rates will fall in the future.  The Berlin City Bank offers a

 variety of adjustable-rate mortgages to qualified buyers.

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Flexibility in Mortgage Lending

 

Unlike some banks that "sell" all of their mortgages to other financial institutions on what's

known as the "secondary market," we keep some of our mortgages in our local community

loan portfolio.  So in addition to offering standard mortgages that adhere to strict underwriting

guidelines for the secondary market, we can also be quite flexible.  We offer special loans

to first-time homebuyers, and can offer qualified borrowers a mortgage on a property that

might not otherwise meet secondary market underwriting guidelines.

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Home Equity Loans & Lines of Credit

A home equity loan is a great way for a homeowner to borrow needed funds for such 

things as the cost of an education, a home improvement project or just about any other

major purchase.  Depending on your personal situation, it can also be a smart way to 

consolidate other debts into a single, affordable monthly payment - one that could offer

significant tax advantages, because interest paid on a home equity loan is often tax-deductible

(consult a tax advisor to be sure).  At The Berlin City Bank you have the option of applying

for a Home Equity Loan or a Home Equity Line of Credit.  With a Home Equity Loan you

borrow a specific amount of money at a fixed rate, and have fixed monthly payments.  A

Home Equity Line of Credit, on the other hand, allows you to borrow money at an adjustable 

interest rate whenever you need it, up to the limit established by your line of credit.  We also

offer flexible repayment terms.  Please don't hesitate to contact your local office for rates, 

terms and assistance in determining which type of home equity loan is right for you.

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Consumer Loans

 

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Automobile, RV, Boat and Motorcycle Loans

 

If your considering the purchase of any kind of vehicle, we'd like to help you finance

it.  We provide financing for both new and used vehicles, with a variety of terms tailored

to fit your individual budget requirements, depending on the make and model year of the

vehicle you are buying.  In addition, we offer borrowers good, competitive rates, flexible

terms, quick decisions and fast turnaround time on loans.  In fact we often approve loans

on the same business day!

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Home Improvement Loans 

 

If you want to fix things up around the house, our Home Improvement Loan can be a great

choice.  For amounts up to $7,500, we offer "unsecured" Home Improvement Loans.  For

larger projects we will make "secured" loans (tied to some form of collateral) of up to

 $25,000, with extended repayment terms.

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Passbook and CD Loans

 

A Passbook Loan or a Certificate of Deposit Loan is a "secured" loan that allows you to use

funds you have on deposit at our bank as collateral.  The interest rate on this type of loan will

be a margin above the rate which you are earning on your Passbook or CD at the time you are

approved for the loan.  Please don't hesitate to ask one of our consumer loan officers for details

if you are interested in this type of loan.

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Credit Cards

 

The Berlin City Bank offers both Platinum and Gold VISA™ cards for your convenience.  

Applications are available by mail or at any of our branches.

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Other Personal Loans

 

If you are interested in borrowing money for another purpose, such as education, we'd like 

to help in any way possible.  Just call and ask to speak with a consumer loan officer - we'll

sit down with you and explain all your options.

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