The Closed-End Home Equity Loan is designed for homeowners who need to borrow for a single project or purpose, such as home improvements or debt consolidation, but want to spread the payments over a long-term period of time. In many cases, interest paid on these loans is tax deductible.

The Clay County Savings Bank Closed-End Home Equity Loan offers a fixed-rate for a term up to 10 years, providing set payments for a specific timeframe. This provides borrowers the certainty of knowing their monthly payment and when the loan will be fully paid.

Closed-End Home Equity Loans  are available up to 80% loan-to-value. There are no origination fees and Clay County Savings Bank will pay up to $200 in third party closing costs for qualifying loans*. Also, the interest paid is usually tax deductible (please consult your tax advisor).

Is the Closed-End Home Equity Loan right for you? Our experienced loan officers are available to answer your questions about choosing the right loan to meet your needs. For more information, contact us online or call us at (816) 781-4500.

TermInterest RateAnnual Percentage Rate (APR)
10 years7.25%7.266%
Interest rates, annual percentage yields and annual percentage rates quoted above are as of November 28, 2022, and are subject to change without notice. APR based on a loan amount of $25,000.

*Interest rate varies depending on loan amount and whether Clay County Savings Bank holds all prior liens.
Up to $200 in third-party closing costs are covered for qualifying loans $25,000 and over ($10,000 and over if Bank holds all prior liens). Extraordinary closing costs are not covered. Typical third party closing costs include title search, flood certification fee, credit report and recording fees. Appraisal or evaluation, if required, is to be paid by borrower.