Loan Rates
Home Equity Line of Credit
Rates As Of: 01/01/2012
|
Total Line of Credit Rates* |
||||
|
Term |
From |
To |
Interest Rate |
APR |
|
10 years |
$500,000 |
$1,000,000 |
Prime plus .75% |
4.50%** |
|
10 years |
$100,000 |
$499,999.99 |
Prime plus 1.00% |
4.50%** |
|
10 years |
$25,000 |
$99,999.99 |
Prime plus 1.25% |
4.50%** |
|
10 years |
$10,000 |
$24,999.99 |
Prime plus 1.50% |
4.75% |
**The APR cannot fall below 4.50%
Residential Mortgage
Contact us for current rates.
Other Loans (Construction, Lot Loans, Overdraft Protection, Auto Loan, Personal Secured and Unsecured)
Contact us for current rates.
*The Annual Percentage Rate (APR) is variable based on the most recent Prime Rate that is available to us as of the first day of the month and the amount of the commitment. This Annual Percentage Rate is based on the highest Prime Rate published in the Money Rates section of the Wall Street Journal (the "WSJ Prime"). The rates shown above are based on the 01/01/2012 Prime Rate of 3.25%. The APR can change on the first day of each month. Minimum amount for a home equity line of credit is $10,000. The maximum APR is 21%. The minimum APR is 4.50%. An increase in the prime rate may increase the APR which will increase the amount of your payment. Your minimum payment amount will equal the amount of accrued Finance Charges. If you only remit minimum payments, you will not fully repay the principal; you will then be required to pay the entire balance in a single "balloon" payment at maturity. For example, on a $25,000 line with a 4.50% APR, minimum monthly payments would be $95.55 with a balloon payment of $25,095.55 for the 120th payment; on a $10,000 line with a 4.75% APR, minimum monthly payments would be $40.35 with a balloon payment of $10,040.35 for the 120th payment. Consult a tax advisor regarding the deductibility of interest. Property insurance for property securing loan is required. Flood insurance may also be required. Offer applies to lines secured by owner-occupied, 1-to-4 family residences located in the state of Illinois that is not part of a purchase transaction or part of a refinance transaction conducted simultaneously with a first mortgage refinance transaction. An Early Termination Fee of $500 will be charged if you close the line within one year from its opening. Subject to credit approval. Normal underwriting guidelines apply. Rates are subject to change without notice.
The Fixed Rate Index (FRI) is the weekly average yield on U.S. Treasury securities adjusted to constant maturity of 5 years for repayment terms of 1, 2, 3, 4 or 5 years, and the margin is 3.60% for a fully amortized Fixed Rate Repayment Plan. For example, a $10,000 5-year repayment plan at 4.50% APR (based on weekending 12/30/2011 FRI of 0.90%) necessitates 60 monthly payments of $186.43. The FRI is the weekly average yield on U.S. Treasury securities adjusted to constant maturity of 10 years for repayment terms of 6, 7, 8, 9 or 10 years, and the margin is 3.85% for a fully amortized Fixed Rate Repayment Plan. For example, a $10,000 10-year repayment plan at 5.75% APR (based on weekending 12/30/2011 FRI of 1.94%) necessitates 120 monthly payments of $109.77.
The FRI is the weekly average yield on U.S. Treasury securities adjusted to constant maturity of 5 years for repayment terms of 1, 2, 3, 4 or 5 years, and the margin is 3.85% for a 15 year amortization Fixed Rate Repayment Plan with a balloon payment. For example, a $10,000 5-year repayment plan at 4.75% APR (based on weekending 12/30/2011 FRI of 0.90%) necessitates 59 monthly payments of $77.78 and one last payment of $7,496.68. The FRI is the weekly average yield on U.S. Treasury securities adjusted to constant maturity of 10 years for repayment terms of 6, 7, 8, 9 or 10 years, and the margin is 4.10% for a 15 year amortization Fixed Rate Repayment Plan with a balloon payment. For example, a $10,000 10-year repayment plan at 6.00% APR (based on weekending 12/30/2011 FRI of 1.94%) necessitates 119 monthly payments of $84.39 and one last payment of $4,448.58.
Based on FRI for the weekending 12/30/2011, these Fixed Rate Repayment Plan APR values will range from 4.50% through 6.00%. This offer may change or be withdrawn at any time.
A Fixed Rate Repayment Plan may be charged an "Early Cancellation Fee" of $250 if you terminate said Fixed Rate Repayment Plan within 12 months of its creation.
