Answers to your loan questions
How do I know how much my payments will be?
What is the difference between my interest rate and APR?
Interest rate is the actual rate charged on the balance of the loan. Annual Percentage Rate (APR) is the cost of the loan including fees over an annual basis. Your interest rate is the rate at which you will make your monthly payments; the APR is a universal measurement that can assist you in comparing the cost of loans offered by different lenders.
What is Loan to Value?
Loan to value, or LTV, is the dollar amount of the loan divided by the appraised value of the collateral expressed as a percentage.
What are the rates on Commercial loans?
Commercial loan rates vary based upon the strength of the loan request. When pricing a commercial loan rate we consider such variables as cash flow of the operating entity, financial strength of the guarantors (owners) and their credit score along with the collateral available to support the request. With those factors in mind, we then price our loans competitively.
Can I apply for a credit card for my business?
What documents will I need to provide with my application?
Documentation required will vary by the type of loan you are requesting. For a consumer loan, you'll need identification and proof of income (i.e. paycheck stubs, W-2, tax returns). For a business loan, previous tax return(s) and current accounts receivable and accounts payable aging reports may be required.
Can I view my loan on my online banking?
Yes! After opening a new loan, ask to have your loan linked to your online banking and you can view your loan online anytime.
What types of home loans do you offer?
LCSB offers fixed and variable rate mortgage loans, home refinancing, home construction loans, home equity lines of credit, and loans to purchase rental properties.
I have questions I can’t find answers to here.
Any member of our Lending Team will be happy to answer any specific questions you may have regarding your loan request. Contact us at 620-342-3523.