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Personal Loans

Variety and opportunity define LOSB Personal Loans. LOSB Personal Loans create credit opportunities by offering products, rates, and terms to fit your needs. Your new car, pellet stove, boat, camping trailer, or even a credit-builder loan may be a call away.

Consumer Secured with Real Estate

5 yr balloon
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Quick turnaround times
Amortization limits based on principal amount
Residential, Secondary, Investment, Vacant, Mobile Homes, etc.

Home-Equity Line of Credit (HELOC)

Fixed or Variable rate available
Maximum 5 yr term
Payment is interest on drawn amount plus 1% of principal
Revolving Line of Credit
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Quick turnaround times

Overdraft Line of Credit (Overdraft Protection)

Linked to your LOSB Checking Account
-If you overdraw your account the loan will automatically transfer into your checking account, you are then responsible for payments
Revolving Loan Balance
Active until terminated by Borrower (or LOSB for inappropriate use)
Must qualify as with all other loans
Quick turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Minimum $25.00 monthly payment on drawn amounts

Consumer Secured with Personal Property (Boats, Cars, Motorcycles, RV’s, etc.)

Boats

Fixed Rate Loans
Quick Turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Amortization depends on useful life of collateral

Manufactured Homes

Fixed Rate Loans
Available for loans over $10,000
Quick turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Amortization depends on useful life of collateral

Vehicle Loans

Amortization depends on year of vehicle and principal amount (up to 72 months for new vehicles over $25,000)
Fixed Rate Loans
Rate buy-down of 0.10% for every 10% of a down payment up to 0.50% for top three grades
Quick turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Available for new and used vehicles
Can be used for wide range of purchase types (i.e. dealership, private party, etc.)
Available for refinancing as well

Recreational Loans (Four-Wheelers, Jet-Skis, Wave Runners, Small Boats, Travel Trailers, Recreational Vehicle Trailers, Snowmobiles, etc.)

Amortization depends on year of collateral and principal amount (up to 60 months for new and 48 months for used)
Fixed or Variable Rate Loans
Quick turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making
Available for new and used vehicles
Can be used for wide range of purchase types (i.e. dealership, private party, etc.)

Credit-Builder Loans

Fixed Rate
Secured by Deposit accounts (Checking, Savings, CD’s, or Money Market)
Dollar amount of loan is held by the Bank as collateral
Can be used by individuals to build credit
Must have money already deposited (cannot use the money from the loan proceeds as collateral)
Quick turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making

Pellet Stove Loans

Fixed Rate
Maximum amortization of 36 months
Quick turnaround times
Tiered grading system
-Grading based on Financial Strength
Localized Decision Making

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