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Current Rates
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Rates are subject to change at any time. In some cases, rates are based on the most recent Prime rate as published in the Wall Street Journal. Please call 219-322-5005 to verify the current rates. Thank you.
Mortgage Loans
| Home Equity Lines
Home Equity Loans
|
Lot Loans |
Vehicle Loans
Mortgage Loans
Fixed Rate Loans*
| Term & Type | Rate | APR+ |
| 30 Year Fixed | 3.500% ^ | 3.644% |
| 30 Year Fixed | 3.750% | 3.841% |
| 20 Year Fixed | 3.250% ^ | 3.450% |
| 20 Year Fixed | 3.500% | 3.627% |
| 15 Year Fixed | 3.000 ^ | 3.254% |
| 15 Year Fixed | 3.250% | 3.411% |
Adjustable Rate Loans*
| Term & Type | Rate | APR+ |
| 1/1 ARM | 2.500% a^ | 4.136% |
| 3/1 ARM | 2.750% a^ | 4.136% |
| 5/1 ARM | 3.000% a^ | 4.388% |
| 7/1 ARM | 3.250% a^ | 3.383% |
|
Term & Type |
Rate | APR+ |
| 30 Year Construction/Perm | 5.000% b | 5.153% |
- Ask about our special
first-time home buyer program - Minimum loan amount of $20,000
- Mortgages less than $50,000 available
at 0.375% above stated rates - Jumbo loans (over $417,000) available
at negotiated rates and fees - All commitments will be binding for 30 days after the date of commitment. Extended commitments are available. Ask for specific information.
* Rates shown are for owner-occupied, single-family residential properties. 80% Loan to Value (LTV) financing is available. Private Mortgage Insurance may be required for borrowers with less than a 20% down payment.
+ Example Annual Percentage Rates (APRs) are based on a typical loan of $100,000 assuming standard loan fees. A $100,000 mortgage with a 30-year fixed rate at 3.50% would have 360 monthly principal/interest payments of $449.04.
^ These interest rates require that you pay 1.00% of your loan amount toward the loan origination charge.
a Maximum increase or
decrease of 2% per adjustment period. Rate at each renewal indexed to 1 year
Treasury Index plus
2.75%. The Floor rate will be the start
rate.
b Construction/Perm loan payments are calculated as interest-only for 6 months, with the remaining term of 354 months calculated as a fixed principal and interest payment for the life of the loan. Construction/Perm loans are not subject to the loan origination fee.
Home Equity Lines of Credit
Revolving Credit
|
Loan to Value |
Rate* |
| 80% or less | Primea + 0.50% |
- 15 year term
- $5,000 minimum and $100,000 maximum line amounts
- Security required: 1st or 2nd lien on your personal residence
- You can access your line through special Equity Reserve checks
- Monthly statements
- Monthly payments can be made one of two ways:
- At 1.50% of the outstanding balance ($100 minimum)
- Interest-only
- Opening Costs: None, but property and/or flood insurance may still be required
- 3-year pre-payment penalty of loan set-up fees, which are approximately $475
- Annual fee of $45
- Floor rate of 5.00% and Ceiling rate of 18.00%
* Rate is variable, adjusted monthly.
a Prime Rate based on rate as published in the Wall
Street Journal.
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Home Equity Loans (Second Mortgages)
Fixed Rate Loan
| Term | Rate | APR+ |
| 10 years | 6.000% | 6.000% |
| 7 years | 5.750% | 5.750% |
| 5 years | 5.500% | 5.500% |
- Fixed principle and interest payments
- Security required: 1st or 2nd lien on your personal residence
- Loan to value (LTV) ratios up to 80%
- $5000 minimum
- No fees to open!
- No annual fees, but property and/or flood insurance may still be required
- 3-year pre-payment penalty of loan set-up fees, which are approximately $475
+ Example APRs are based on a typical loan of $50,000, assuming standard loan fees. With a 10-year rate at 6.000%, this loan would have 120 monthly principal/interest payments of $555.11.
Lot Loans
Click here to view information about our
Construction/Perm Loan!
The current rate you secure for your construction loan
transfers to your permanent loan.
| Loan to Value | Rate* |
| 75% or less | Primea + 1.00% |
- 5 year maximum term
- Minimum loan amount of $25,000
- Loan fee: $500
- 3rd party fees to be paid by borrower
* Rate is variable, adjusted monthly. The Floor rate will be 5.000%.
a Prime Rate based on rate as published in the Wall Street Journal.
OR, as an alternative:
Amortize the loan over 10 or 15 years at a fixed rate:
| Term | Rate | APR+ |
| 15 years | 5.500% | 5.720% |
| 10 years | 5.250% | 5.560% |
- 75% or less Loan to Value (LTV) Ratio
- Minimum loan amount of $25,000
- Loan fee: $500
- 3rd party fees to be paid by borrower
+ Example Annual Percentage Rates (APRs) are based on a typical loan of $50,000 assuming standard loan fees. A $50,000 loan with a 15-year fixed rate at 5.500% would have 180 monthly principal/interest payments of $408.54.
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Vehicle Loans
- Minimum loan amount of $2000
- The age of the car (in model years) plus the term of the loan shall not exceed 7 years
- The value of the vehicle is based on the lower value between the sale price and the Red Book value.
- Loans on vintage or collectible automobiles are available at negotiated terms.
Rates also available for other vehicles such as:
- Motorcycles
- Wave Runners
- Snowmobiles
- Motor Homes
- Campers / Travel Trailers
- Boats and Boat Trailers
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