Fixed Rate Loan

A fixed rate loan gives you the security of knowing that your Interest rates are fixed throughout the life of the loan. We offer several options in the secondary market. Terms can vary. VA Loans and Rural Housing Loans are also available. 

Adjustable Rate Mortgage (ARM) Loans

An ARM Loan offers you the flexibility of a lower interest rate while starting out with an initial fixed rate but adjusting to the current market conditions after a predetermined lock period.

Home Equity Loan

A Home Equity Loan is very similar to other loans as the lender gives you a lump sum, expecting repayment plus interest and other fees. Home Equity Loans are secured by your home and are good for use on a specified project for a set amount. Many people find that Home Equity Loans are convenient for debt consolidation, paying for education expenses, and paying for other personal expenses. The interest rate is often lower and may be tax deductible. We recommend consulting your tax advisor to learn about the tax implications for a home equity loan.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is another type of home equity loan. However, a HELOC is considered a "variable rate" revolving credit account. It is flexible and it works like a line of credit—you can borrow money, and as you pay it down, you can borrow more. A HELOC comes with a limit that usually corresponds somewhat to the equity you have in your home. Money from a home equity line of credit is fairly accessible. You are not required to apply for a new loan to get more money if you need more than you thought you did. However, you must stay within your limit. Like a Home Equity Loan, the HELOC may have tax-deductible interest payments. We recommend consulting your tax advisor to learn about the tax implications with a HELOC.

Ready to build your dream house? Come by one of our two convenient Bedford Federal Savings Bank locations or Contact our Loan Officers to find a financial plan which fits your vision of the perfect home. We offer several options to get your home completed with the specifications you have in mind.

Whether you need a bigger vehicle to fit a growing family, are in need of a boat for your next adventure, or ready to hit the open road on two wheels, we have a consumer loan to get your into the ride of your choice.

Each Automobile Loan, Marine & Recreation Loan, and Motorcycle Loan offers: 

• Competitive interest rates 
• Flexible repayment terms
• Low monthly terms
• Same-day credit decisions

Contact our Loan Officers to learn about our current rates or start the application process. 

Businesses often require Non-Residential Mortgage Loans. It can be used to start a business, expand, open a line of credit, or purchase a business vehicle. For commercial loans, Bedford Federal Savings Bank offers: 

• Fixed and variable rate available
• Financing up to 20 years
• Competitive rates
• Low closing costs

 Please Contact a Loan Officer for current interest rates, disclosures of closing costs, and other charges for the loan product that fits your needs.