The Home Savings Bank of Wapakoneta, Ohio was established in June 1941 as a state chartered mutual savings and loan association. Since inception the primary function of the company has been to provide a safe depository for savings dollars and to use those deposits to provide affordable home loans to the residents of Auglaize County. As Wapakoneta’s only locally owned and operated financial institution, Home Savings offers “old fashion friendly personal service.” They have added many new services like Internet Banking, ATM/Debit cards, checking accounts, IRA’s and home equity lines are a few of the new products available to customers. The fact that Home Savings considers these services “new” gives borrower’s an idea of the style of service the bank will provide.
Down Home Service and Expertise
Home Savings divides their loans into four categories: home mortgages, home equity loans and lines of credit, lot loans, construction loans and commercial real estate loans. They go in to no more detail than that on their website, which essentially is laid out similarly to a print ad in a magazine. The only sign of the times is that Home Savings has one mortgage calculator. The terms, conditions and service charges are never described for any of the loans. No interest rate charts or APRs are shown. This is traditional as well: the business of home mortgages is described and driven by the loan counselors at the bank who are the experts in the loan options.
What to Ask About
Remember, all retail home loan companies charge you for the privilege of their expertise and service in setting up, evaluating and processing the loan application. Finding out what those costs are is very relevant to your eventual financial obligation and more importantly how much upfront money it costs to get the loan.