What are Sound Financial Bancorp Inc's Business Segments?
One- to Four-Family Real Estate Lending. One of our primary lending activities
is the origination of loans secured by first mortgages on one- to four-family
residences, substantially all of which are secured by property located in our
geographic lending area. We originate both fixed-rate and adjustable-rate loans.
Over the past two years, the majority of our one- to four-family loan originations
were fixed rate.
Home Equity Lending. We originate home equity loans that consist of fixed-rate
loans and variable-rate lines of credit. We typically originate home equity
loans in amounts of up to 80% of the value of the collateral, minus any senior
liens on the property; however, prior to 2010 we originated home equity loans
in amounts of up to 100% of the value of the collateral, minus any senior liens
on the property. Home equity lines of credit are typically originated for up
to $250,000 with an adjustable rate of interest, based on the one-year Treasury
Bill rate plus a margin. Home equity lines of credit generally have up to a
twelve-year draw period, during which time the funds may be paid down and redrawn
up to the committed amount. Once the draw period has lapsed, the payment is
amortized over a twelve-year period based on the loan balance at that time.
Commercial and Multifamily Real Estate Lending. We offer a variety of commercial
and multifamily loans. Most of these loans are secured by commercial income
producing properties, including retail centers, multifamily apartment buildings,
warehouses, and office buildings located in our market area.
Construction and Land Lending. We originate construction loans secured by single-family
residences and commercial and multifamily real estate. We also originate land
and lot loans, which are secured by raw land or developed lots on which the
borrower intends to build a residence, and land acquisition and development
loans.
Consumer Lending. We offer a variety of secured and unsecured consumer loans,
including new and used manufactured homes, floating homes, automobiles, boats
and recreational vehicle loans, and loans secured by deposit accounts. We also
offer unsecured consumer loans.
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