Loan FAQ

Answers to your loan questions

By using this loan calculator you can figure any loan payment.
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.
Loan to value, or LTV, is the dollar amount of the loan divided by the appraised value of the collateral expressed as a percentage.
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.
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.  
Yes!  After opening a new loan, ask to have your loan linked to your online banking and you can view your loan online anytime.
LCSB offers fixed and variable rate mortgage loans, home refinancing, home construction loans, home equity lines of credit, and loans to purchase rental properties.
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.