Clay County Savings Bank offers loans secured by non-owner occupied property (“rental property”).  Current programs available are ARMs and 15-Year or less Fixed-Rate.

Clay County Savings Bank currently does not offer a fixed-rate program on non-owner occupied property for a term greater than 15 years.  Interest rates on loans on non-owner occupied property are typically 1 percentage point higher than the available program for owner-occupied property and a require a 1% origination fee.

For ARMs, caps are 2/6 and margin is 3% over the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year.