Loans
Real Estate
First Mortgage
Whether you're buying a new home, a vacation home, or refinancing your existing mortgage, Shelter Bank is ready to help. Our home loan program is designed to work with your individual needs. We offer fixed and adjustable rate mortgage loans for terms up to 20 years. Because we know that your time is valuable, we have a staff of professionals who are dedicated to making the process easier for you.
Fixed Rate Loans
- PURCHASE -Borrow up to 80% of the sales price
- REFINANCE -Borrow up to 80% of value, cash out limited to 80% LTV.
- VACATION HOMES - Maximum loan-to-value of 80%
- Interest may be tax deductible. (Consult your tax advisor. Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes.)
- Minimum loan amount $30,000
- Click here for Product Brochure
Adjustable Rate Loans (ARM)
| TERM | Rate/APR |
| 5/1 - 30 years | 3.125/3.377 |
| 7/1 - 30 years | 3.750/3.644 |
| 10/1 - 30 years | 4.000/3.859 |
| View All Rates & Details | |
- Adjustable rate indexed to 1-Year Treasury Bill; Cap of 2% per adjustment, 6% over the lifetime
- PURCHASE - Borrow up to 80% of the sales price
- REFINANCE - Borrow up to 80% of value, cash out limited to 80% LTV.
- VACATION HOMES - Maximum loan-to-value of 80%
- 5-30 year amortization with annual repricing after first 5, 7 or 10 years (5/1, 7/1 or 10/1 ARM)
- Minimum Loan Amount $30,000
- Click here for Product Brochure
Fixed Rate Home Equity
| Term | Rate/APR |
| 60 months | 4.990/5.382 |
| 120 months | 5.490/5.803 |
| 180 months | 5.990/6.215 |
| View All Rates & Details | |
Most banks offer home equity loans, but Shelter Bank isn't your ordinary bank! Discover how working with Shelter Bank means better rates and experienced professionals who can help you tailor a home equity loan that fits your needs.
- Choose your rate and term - Shelter Bank lets you choose the right option for you, from one year to fifteen years.
- Choose how you work with us - You've got three options, and none of them involve long lines. (1) Call your local Shelter Agent, (2) Apply online, or (3) Call us at our toll free number (800) 251-7115.
- Choose how you'll use your loan - Whether it's paying off some bills or remodeling your kitchen, Shelter Bank offers a new recipe for a tried and true home equity loan!
Features:
- Fixed rate and payments for entire term of the loan
- Terms of 1-15 years
- Borrow up to 80% of the value of your single-family, owner-occupied primary residence
- Interest may be tax deductible. (Consult your tax advisor. Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes.)
- Minimum loan amount $10,000
- Click here for Product Brochure
Home Equity Line of Credit
| Term | Rate/APR |
| 5 Year Draw | 3.99/3.99*** |
| 10 Year Repay | 3.99/3.99*** |
| View All Rates & Details | |
Whether consolidating higher interest debts, sending the kids to college, building an addition, remodeling your home or taking a well-deserved vacation... using the equity in your home is a smart way to borrow money. You can use your Shelter Bank credit line for whatever you want and access is quick and easy - just write a check! With our LOW RATE OF PRIME MINUS 1/4%, NO ANNUAL FEES, INTEREST ONLY PAYMENTS FOR THE FIRST 5 YEARS and * NO CLOSING COSTS, Shelter Bank has one of the best deals around!
Features:
- Initial interest rate guaranteed for first 12 months - until first-year anniversary date
- Then a low variable rate - indexed to Wall Street Prime Rate MINUS 1/4%
- Borrow up to 80% of the value of your single-family, owner-occupied primary residence
- *Bank pays all normal closing costs for most second lien position loans under $100,000
- No minimum draw amount or initial advance required
- Interest may be tax deductible. (Consult your tax advisor. Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes.)
- Loan amount $10,000 - $100,000
- Renewable 5-year draw period - Interest only payments during this period
- 10-year repayment period after draw period expires. Monthly payments are 1/120 of principal payment based on principal balance owed at beginning of repayment period plus actual interest due monthly OR $100, whichever is greater.
- $400 minimum finance charge over the life of the loan
- Minimum lifetime rate is 3.99%; Maximum ilifetime rate is 20.0%.
- Click here for Product Brochure
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