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Loan Products
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Statement of Loan Policy
Arundel Federal Savings Bank has established a policy of making sound loans to qualified applicants without
regard to race, color, national origin, religion, sex, marital status, age, handicap, familial status, the
receipt of public assistance, the borrower's good faith exercise of rights under the Consumer Credit
Protection Act or the age or location of the dwelling (where applicable).
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Whether you are buying or building a home or refinancing your current mortgage, Arundel Federal Savings Bank has a loan for you. We offer fixed and adjustable rate loans and Pre-qualification is available.
Properties must be located in the State of Maryland.
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Fixed Rate Loans
Purchase or Refinance
Fixed interest rates
Fixed monthly payments
Terms from 5 to 30 years (and anything in between)
100% financing available
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Adjustable Rate Mortgage Loans (ARM)
Purchase or Refinance
Variable interest rates
1 year, 3/1, 5/1 and 7/1 ARMS available
Variable monthly payments
Terms from 5 to 30 years (and anything in between)
100% financing available
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Construction Permanent Loans (fixed rate only)
Purchase lot and build home in one transaction
Interest only payment during construction
Automatic conversion to a permanent mortgage upon completion
Terms from 5 to 30 years (permanent loan)
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Home Equity Loan Products
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An home equity loan can provide the cash you need to consolidate debt, make home improvements, pay college tuition, etc. Arundel Federal Savings Bank offers revolving home equity lines of credit as well as fixed rate/term home equity loans.
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Home Equity Lines of Credit
Revolving line with check writing convenience
5 year initial draw period (renewable)
10 year repayment period
Interest only payments during draw period
Access up to 100% of the available equity in your home
Interest may be tax deductible (Consult your tax advisor)
No Closing Cost Option available (excludes
city/county transfer tax)
Borrowers must take $10,000 advance at closing
Prepayment Penalty applies
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Fixed Rate Home Equity Loans
Fixed interest rates
Fixed monthly payments
Terms up to 30 years
Access up to 100% of the available equity in your home
No Closing Cost Option available (excludes city/county
transfer tax, prepayment penalty applies)
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Auto, Boat and Personal Loans
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- Auto Loans
- New Automobiles
- Up to 5 year repayment term
- $500 minimum down payment required
- Fixed interest rates
- Vehicle must be registered and operated in the State of Maryland
- Used Automobiles
- Only vehicles which are less than 6 years old are eligible
- Up to 5 year repayment term
- 10% down payment required
- Fixed interest rates
- Vehicle must be registered and operated in the State of Maryland
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- Personal Loans
- Unsecured
- Up to 3 years to repay
- Borrow from $500 to $5,000
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- Boat Loans
- New Boats
- Up to 10 year repayment term
- 35% down payment required
- Fixed interest rates
- Vessel must be registered and operated in the State of Maryland
- Used Boats
- Only vessels which are less than 11 years old are eligible
- Up to 10 year repayment term
- 40% down payment required
- Fixed interest rates
- Marine Survey required
- Vessel must be registered and operated in the State of Maryland
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EQUAL CREDIT OPPORTUNITY ACT NOTICE
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, marital status, age (provided that the applicant has the capacity to enter into a binding contract), sex, handicap or familial status (having children under the age of 18), because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with the law concerning this lender is the
Director, Consumer Affairs, Office of Thrift
Supervision, Washington, D.C. 20552.
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Main Office: 333 East Patapsco Avenue Baltimore, Maryland 21225-1899
Telephone:(410) 355-9300 Fax:(410) 355-0335
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