Loan Products

Whether you're looking to finance a new home, car, home improvement, child's education, or vacation, you will find Community Federal offers affordable rates, convenient terms, and quick turnarounds. Be sure to consult with one of our loan officers to ensure you will receive the best loan solution and rates for you.

Home Mortgages

• In house and secondary market
• Local servicing available with some products
• 100% and 80/20 loan programs available
• Attractive rates and terms
• Personalized service
• First time home buyer programs available
• Fast approvals

Consumer Loans - Installment

• Auto loans available up to 80% of value
• Lines of credit
• Favorable rates, terms, payments dates, and payment options
• Fast turnaround

Consumer Home Equity Loans

• May be used for many purposes
• Interest tax deductible (see your tax advisor)
• Monthly payment to fit your budget
• Fast turnaround

Home Equity Line of Credit

• No closing fees - you pay mortgage recording and mortgage tax only
• Interest paid only on outstanding balance
• Convenience of writing a check for the amount you want to borrow ($500 minimum)
• Payments are 1% of outstanding balance plus accrued interest
• Fast turnaround

Minnesota Housing Finance Agency Fix Up Funds - Home Improvement Loans

• Fixed rate over life of loan (up to 20 years)
• Funds available for siding, insulation, remodeling, energy efficient heating or cooling
• Minimal or no closing fees

Personalized Loans

Community Federal can create a loan solution that meets your unique needs. Contact us or stop by the bank to visit with one of our loan officers to begin your loan application process.

Ideal Credit Line (Overdraft Protection)

The Ideal Credit Line conveniently provides funds for unexpected purchases or emergencies and helps eliminate costly overdraft charges resulting from checkbook errors.

• Activates when your checking account balance goes below zero
• Acoids costly and credit damaging overdraft charges
• Write yourself a short term loan for unexpected purhcases or emergencies
• Payments taken automatically from your checking account
• Convenient