Personal Loans
Financing makes your dreams become reality.
At Customers Bank, you can speak with knowledgeable bankers, who will explore ways to meet all of your borrowing needs. Our experienced loan officers welcome the opportunity to assist in providing financing that helps accomplish your goals.
Customers Bank's personal loan products include:
Home Equity Lines of Credit
The Home Equity Line of Credit is a variable rate loan using the available equity in your home. Access this loan only when you need money - balances could move higher or lower - like a credit card. The funds can be used as needed up to your credit limit. Unlike a Home Equity Term Loan, the payment is based upon your current balance. The interest rate is variable and based on the Wall Street Journal Prime Rate.
- How big a line of credit do I qualify for?
Use this calculator to determine the home equity line of credit amount you may qualify to receive.
Home Equity Term Loans
A Home Equity Term Loan uses the available equity in your home, and is sometimes referred to as a second mortgage. The equity in your home is the market value of the house, less the balance still owed on the first mortgage. Home equity loans are commonly used for major expenses such as medical bills, home remodeling, or college tuition. Like a mortgage, the home equity loan must be paid over a fixed period of time. The interest rate is fixed for the term of the loan. This is a lump sum disbursement.
- Does a home equity loan make sense for my vehicle purchase?
Home equity loans generally often have lower interest rates than auto loans and the interest may be tax deductible. - Should I use equity in my home to consolidate my debt?
This calculator is designed to help determine whether using equity in your home to consolidate debt is right for you.
Mortgages
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower gives the lender a lien on the property as collateral for the loan. The mortgager's lien on the property expires when the mortgage is paid off in full.
- How much will my adjustable rate mortgage (ARM) payments be?
Determine what your adjustable mortgage payments will be. - Which is better: fixed or adjustable?
Compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. - What is the maximum FHA mortgage allowed for my home purchase?
Determine your maximum FHA mortgage and cash needed for closing. - What is my maximum mortgage?
Use this calculator to determine your maximum mortgage and how different interest rates affect how much you can borrow. - How much will my mortgage payment be?
Determine your monthly mortgage principal, interest, taxes and insurance payment (PITI) and amortization schedule. - How much can I borrow?
Can you buy your dream home? Find out just how much you can afford! - What income is required to qualify for a mortgage?
Use this calculator to determine how much income you need to qualify for a mortgage and how different interest rates affect your required income. - How long will it take to breakeven on a mortgage refinance?
Should you refinance your mortgage? Use this calculator to determine when you will breakeven. - Should I rent or buy?
Are you better off buying your home, or should you continue to rent?
Overdraft Lines of Credit
The Line of Credit is unsecured used as overdraft protection for your Checking Account. Avoid the complications of a bounced check. The interest rate is a floating rate based on the Wall Street Journal Prime Rate.
