Loans

Personal Banking – Loans

Generations Bank personal loan products offer an affordable solution to all your financing needs.

Home Equity Line of Credit Loans –
Generations Bank offers home equity line of credit loans.  The loans can be used for home improvement or other consumer purposes, i.e. education, vacation, or purchase of personal property.  Collateral for these loans can include a first or junior lien on your primary or second home.

Home Equity Loans –
The Bank offers home equity loans for many purposes, including debt consolidation, purchase a new or used vehicle, education, and other consumer purposes.  Collateral for these loans can include a first or junior lien on your primary or second home.

Home Improvement Loans –
The Bank offers home improvement loans, such as remodeling your kitchen, bathroom, or finishing the basement for your primary or second home.   Collateral for these loans can include a first or junior lien on the property that is being improved. 

Vehicle Loans –
Generations Bank offers loans to purchase or refinance new or used vehicles.   The Bank’s lending program include the purchase or refinance of autos, trucks, pickups, sport utility vehicles, recreational vehicles, and boats/motors/trailers.

Personal Loans –
The Bank offers personal loans where the collateral can be bank certificates of deposit, publicly traded securities, and other accepted collateral.

Credit Cards –
 The Bank offers Visa branded credit cards that can be used anywhere the card is accepted.

Credit Card Registration

Loan Inquiry Form –
To inquire about our available consumer loan products and services, please click this link to complete our Loan Inquiry Form or contact a Bank Agent at the nearest location to you.   At the end of the Loan Inquiry Form, you may choose to submit the Form online or print the information you have entered and mail or fax the Form to our Overland Park, Kansas Office.

The Bank’s primary lending areas are in and around the geographies served by our offices in Overland Park, Kansas and Phillipsburg, Kansas, and the geographies in and around our Bank Agent locations.   The Bank welcomes other lending opportunities outside the identified areas on a case-by-case basis.

Loan Underwriting Standards –
To inquire about our loan underwriting standards, you may view or print from your personal computer by clicking this link to our Loan Underwriting Standards.

Generations Bank
Loan Underwriting Standards

Fair Lending Statement

Credit is made available on a fair and consistent basis to all applicants who meet our lending standards without regard to race, color, religion, national origin, sex, marital status, familial status, handicap, age (providing the applicant has the capacity to enter into a binding contract), source of income, or the exercise of rights under the Consumer Protection Act.

Mortgage Loans

Generations Bank desires to provide a wide rage of mortgage-related services.  We choose to originate and hold many loans to maturity.  However, certain loan applications are approved and originated by or sold to other investors (lenders).  This allows Generations Bank the ability to provide you with the most attractive financing alternatives.  This process may require the use of a third-party mortgage loan originator and/or broker that may pay us a fee.

Generations Bank currently only originates and retains adjustable rate mortgage (ARM) loans, and the Bank requires a credit score of 680 or higher and a 42% or lower debt to income ratio.  The Bank may loan up to 90% of the value of a property in a first mortgage.  The Bank may also loan up to 100% of the equity in a residential property in the form of a home equity line of credit or a second mortgage.

Through other investors (lenders) and brokers, Generations Bank may be able to provide applicants with underwriting terms that are less restrictive, but generally require a credit score of 500 or higher.

Unsecured Consumer Loans

The general requirements for an unsecured consumer loan are a credit bureau score of 680 or more, a debt to income ratio of 42 % or lower, no current delinquencies and no bankruptcies within the prior two years.  Interest rates range from 11.25% to 14.25% and are primarily determined based upon credit bureau scores.

Secured Consumer Loans

Secured consumer loans, including auto loans, can be made up to 100% of the purchase price or retail value, whichever is less.  Retail values are determined by using Kelly’s Blue Book or other similar industry resources.  Rates are determined by the length of time and the age of the asset being financed.  The general requirements for a secured consumer loan are a credit bureau score of 680 or more, a debt to income ratio of 42% or lower, no current delinquencies, and no bankruptcies within the prior two years.

Commercial Loans

Commercial loans generally require collateral and the Bank may originate loans secured by this collateral in varying proportions (ratios), depending upon the type and quality of the asset.  In addition, commercial loans require financial statements and tax returns, along with ratios of capital to assets, and profitability and cash flows.

Unsecured commercial loans are generally underwritten in the same manner as unsecured consumer loans (see above) and require the personal guaranty of the principal(s) of the business.