Fixed-Rate Mortgage

Know what your mortgage payment is going to be every month for the life of the loan.

Your payment always remain the same, helping you to plan and budget, staying on track with payments. Chelsea State Bank offers a variety of terms to give you choices in both payment amount and when you make the final payment on your home.

Advantages to a Chelsea State Bank fixed-rate mortgage include:

• Fixed payment every month
• Clear terms and pay-off date
• Pre-qualification
• Partnership with trusted CSB mortgage expert

Adjustable Rate Mortgage

Know what your mortgage payment is going to be every month for the life of the loan.

The Adjustable Rate Mortgage program is fixed for 62 months and can change every 12 months after and your interest rate cannot increase or decrease more than 2 percentage point(s) at each adjustment and your interest rate will never be less than 3% and cannot increase more than 6 percentage point(s) above the initial interest rate over the term of the loan.

Advantages to a Chelsea State Bank fixed-rate mortgage include:

• Lower Interest Rate upfront
• Rate fixed for 62 months
• Potential rate decreases
• No prepayment penalty for early payoff
• You can refinance to switch to a fixed-rate mortgage

Fantastic financial gains with a long term and a fixed rate. Minimal cash investment up front.

FHA mortgages are government insured and provide a great financing option to those who need a lower down payment or more flexible credit requirements.

A mortgage backed by the Federal Housing Administration (FHA) provides a way for those who do not meet the requirements of a conventional mortgage to still be able to purchase their own home. Private Mortgage Insurance (PMI) is required. Highlights of a FHA loan include:

• Lower down payment requirements
• Up to 6% Seller assistance toward Buyer’s closing costs & prepaids allowed
• Lower credit requirements for applicant(s)
• Down payment money may be gifted from family

• Competitive rates for your home construction project
• Provides more convenience — especially toward the end of the construction phase and the beginning of permanent mortgage
• Payments are made on the amount drawn on your loan
• Construction draws applied in stages based on work completed
• Fast, local decisions made here in our Chelsea and Dexter communities
• Attentive, friendly service from start to finish

• Competitive rates for several short-term or one-time needs:
  • Major life events
  • Home remodel projects
  • Debt consolidation
  • And much more
• The existing equity in your home is used as collateral backing
• Fast, local decisions
• Attentive, friendly service from start to finish