Come See Us About Our Loans
The Milford Bank has a variety of loan programs with competitive rates and quality hometown customer service everyday. Many types of consumer loans can be completed in less than 30 minutes because paperwork is greatly simplified. Our consumer loan programs are available for residents.
Types of Loans:
Home Equity Loans and Lines of Credit
Borrow against the value of your home today for any worthwhile purpose. You can print out an application and all the necessary disclosures right from our web site. Then simply review the disclosures, fill in the forms, and mail or fax to our Loan Department for prompt processing.
Home Improvement Loans
Improving your home is like investing in yourself. So if you’re planning to spruce up your home, add a bathroom, remodel the kitchen, build an addition or other substantial improvement, remember you can count on us to help make your dreams come true. The Milford Bank has money to lend at rates that compete with the mega-banks. We offer a flexible variety of home improvement and home equity loan options, all with exceptional service. You deal directly with the decision makers who can approve your loan, instead of waiting on some remote and faceless review committee. And when you bank with us your money goes to work improving things here, not in New York or Boston.
- No Application Fees
- No Appraisal Fees
- No Points
- No Closing Costs
- Property insurance is required
Collateral Loans
Here is an effective, easy, and quick way to borrow if you already have a savings account or certificate of deposit with The Milford Bank. As a depositor, you can borrow upwards of 90% of the value of certain deposit accounts, with rates of interest at 3.500% to 6.500 % over your deposit rate. You will make regular monthly principal and interest payments, and the maturity will coincide with the pledged instruments maturity or 5 years; whichever is shorter.
Personal Loans
A personal loan is as individual as you are and is available for nearly any purpose. Pay for your child’s wedding, buy new furniture, go on a cruise – the possibilities are endless.
Credit Builder Program
Building credit shouldn’t be complicated. We’re here to help you take the next step.
If you need help rebuilding your credit … we want to help with our Credit Builder program by giving qualifying low-to-moderate income borrowers an opportunity for credit success.
Loan Amount: $500 Fixed Monthly Payment: $44 12 months at an annual percentage rate of 10.18% Reports to major credit bureaus For eligible borrowers living or working in Milford, Stratford, West Haven, or Orange
Learn more at any Milford Bank Office!