Compass Bank delivers loans with competitive rates, quality service and good advice on the product that will best fit your needs. Our knowledgeable staff will help you decide what payment structure best fits your budget. Lending decisions are made by us, the people in your community which means a faster response time for you.
No Fee Home Equity Loans
Homeowners can use the value of their home for purchasing a car, financing a child's education, consolidating bills, or building a new addition. The equity of your home is calculated by subtracting the amount owed from the appraised value.
The appraised value is what your home is worth, determined by a professional appraiser. An appraisal fee may be applied for loans greater than $150,000. The bank then lends up to 80% of your equity. Home equity loans have attractive interest rates and typically the interest is tax deductible; consult your tax advisor.
The interest rate is fixed and the term ranges from one to 15 years. There are no fees for a home equity loan which saves you a lot of money and there is no pre-payment penalty for paying off the loan early. Compass also offers home equity lines of credit.
Call us 412-824-1070 or stop by our office.
Nationwide Multistate Licensing System
Loan originators employed by federally insured or chartered institutions such as Compass Savings Bank must meet all requirements of the federal registration process. The Nationwide Mortgage Licensing System & Registry or Nationwide Multistate Licensing System (NMLS) is the legal system of licensing for individuals and companies.
Compass Savings Bank holds NMLS ID 412216
The lenders employed by Compass Savings Bank holding active NMLS licenses are: Linda R. Barker (NMLS ID 1166971), Steven J. Marsden (NMLS ID 1371606), Tina M. Sullivan (NMLS ID: 1166959)