Loans
Our Mission is Your Dreams
The way we look at it, the reason we go to work every day is to help you reach your dreams. It makes our work meaningful and gives you your own financial booster club! When it's time to purchase, build, or remodel your home, or plan for your financial future, you will find the help you need right here.
One of our personal bankers will help you select the loan that's just right for your needs. For your convenience, most of our loan applications are approved and processed within 24 hours. Plus, if you use Auto Debit to automatically withdraw your loan payments from Davison State Bank savings or checking account, we'll reduce your loan rate by 1/4%.
Consumer Loans
When you need money for your next new or used car, truck, boat, RV, or other durable item, take advantage of the convenience, flexibility and service offered Davison State Bank. Choose a fixed or variable rate and the term (payoff period) that's right for you. It's simple to apply and we can often approve your loan in a day or less.
Unsecured Personal Loans
You can borrow money on an unsecured basis (no collateral or security) for a wide variety of needs and repay it in monthly installments over a set period of time. Choose from fixed or variable interest rates, with interest calculated on a simple interest basis -- the most cost effective method for you.
Home Equity Loans
You can use the equity in your home to borrow for almost any purpose including home improvements, cars, trucks, education, RVs, medical bills, investment opportunities, even to pay off high-rate credit cards. In most instances, the interest paid on a loan secured by your home is tax deductible. That's important because interest payments on most other types of consumer loans are not deductible. Please see your tax advisor for more information.
Fixed rate equity loans: These loans let you borrow a specific amount of money for a specific period of time. The loan is secured by the equity in your home, and you pay off the outstanding balance with regular monthly payments. The advantages of this option are that your payment never changes and you pay off the loan in a set period of time.
Variable rate "Equity Advantage" This is a variable rate line of credit you can draw against at any time by check. You apply once, and your line of credit is available for seven years. Because you can borrow against the line of credit at any time, your monthly payments will change depending on the outstanding loan balance. Two minimum monthly payment alternatives are available: 2% of the outstanding balance on the day your billing statement is produced or interest only: a balloon payment may result. The primary advantage of this option is that you can access cash whenever you need it, for any purpose.
