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Loan Rates
Home Equity Line of Credit
Rates As Of: 08/01/2008
|
Total Line of Credit Rates* |
||||
|
Term |
From |
To |
Interest Rate** |
APR** |
|
10 years |
$100,000 |
And above |
Prime minus 1.00% |
4.00% |
|
10 years |
$50,000 |
$99,999 |
Prime minus .50% |
4.50% |
|
10 years |
$25,000 |
$49,999 |
Prime minus .25% |
4.75% |
|
10 years |
$10,000 |
$24,999 |
Prime |
5.00% |
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"). Based on the 08/01/08 Prime Rate of 5.00%, the APR for standard variable rates range from 4.25% through 5.25% depending on the amount of the line commitment. 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%. 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. 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. 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.
** This reflects a preferred rate from standard variable rates. We will reduce your home equity line APR by .25, subject to rate limitations, if your home equity line payments are deducted from your Libertyville Bank & Trust Checking Account via a monthly automatic payment debit arrangement. The APR reduction will be eliminated if this payment arrangement is terminated. Contact bank for qualifying checking accounts. This rate reduction does not apply to the Fixed Rate Repayment plan.
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 3.25% for a 15 year amortization Fixed Rate Repayment Plan with a balloon payment. For example, a $10,000 5-year repayment plan at 6.75% APR (based on weekending 07/25/08 FRI of 3.44%) necessitates 59 monthly payments of $88.49 and one last payment of $7,795.21. 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 3.50% for a 15 year amortization Fixed Rate Repayment Plan with a balloon payment. For example, a $10,000 10-year repayment plan at 7.625% APR (based on weekending 07/25/08 FRI of 4.11%) necessitates 119 monthly payments of $93.41 and one last payment of $4,741.96.
Based on FRI for the weekending 07/25/08, these Fixed Rate Repayment Plan APR values will range from 6.50% through 7.625%. 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.
