 |
  |
 |
 |
 |
 |
 |
Current Rates
In some cases, rates are based on the most recent Prime rate as published in the Wall Street Journal. Rates are subject to change at any time. Please call 219-322-5005 to verify the current rates. Thank you.
Online rates are for your information only. While we make every effort to keep them current and accurate, mistakes or typos cannot be honored.
Mortgage Loans
| Home Equity Lines
Home Equity Loans
|
Home Improvement Loans
Lot Loans |
Vehicle Loans
Mortgage Loans
Fixed Rate Loans+
| Term & Type | Rate | APR* |
| 30 Year Fixed | 6.625% | 6.669% |
| 20 Year Fixed | 6.500% | 6.558% |
| 15 Year Fixed | 6.125% | 6.197% |
| 10 Year Fixed | 5.875% | 5.976% |
Adjustable Rate Loans+
| Term & Type | Rate | APR* |
| 7/23 (2 Step) | 6.250% | 6.334% |
| 3/30 ARM | 5.875%(1) | 5.918% |
| 1/1 ARM | 5.500%(2) | 5.542% |
| 3/1 ARM | 5.875%(2) | 5.918% |
| 5/1 ARM | 6.000%(2) | 6.043% |
| 7/1 ARM | 6.125%(2) | 6.168% |
Balloon Loans+
| Term & Type | Rate | APR* |
| 3 Year Balloon | 6.000% | 6.240% |
| 5 Year Balloon | 6.125% | 6.280% |
| 7 Year Balloon | 6.250% | 6.370% |
| 10 Year Balloon | 6.375% | 6.469% |
 | Ask about our special first-time home buyer program |
| Application deposit of $375 |
| 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 stated rates and fees |
| Loans on non-owner occupied property are normally limited to 75% of the lesser of the appraised value or purchase price |
| 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 single family, owner occupied properties based on a loan to value (LTV) ratio of 80% or less at a loan amount of at least $50,000. (LTV is based on appraised value or purchase price plus improvements, which ever is less.) 80% financing available based on appraised value or purchase price plus improvements, whichever is less. For non-owner occupied property, add 1.0% to the stated interest rate. Private Mortgage Insurance may be required for borrowers with less than a 20% down payment. Call for additional options for higher Loan to Value loans.
* Example Annual Percentage Rates (APRs) based on a typical loan of $100,000 assuming standard loan fees. A $100,000 mortgage with a 30-year fixed rate at 6.625% would have 360 monthly principal/interest payments of $640.31.
(1) Maximum increase or decrease of 5% over the life of the loan and 2% per 3-year term. Rate at each renewal indexed to 3 year Treasury Index plus 2.75%.
(2) Maximum increase or
decrease of 2% per adjustment period. Rate at each renewal indexed to 1 year
Treasury Index plus
2.75%.
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 or a Debit card | ||||
| Monthly statements | ||||
| Monthly payments can be made one of two ways
| ||||
| Must remain open for a minimum of 3 years | ||||
| Opening Costs: None (3-year prepayment penalty of loan set up fees – approximately $350) | ||||
| Annual fee of $45 |
* Rates adjusted monthly.
a Prime Rate based on rate as published in the Wall
Street Journal.
Back to top
Home Equity Loans
Fixed Rate Loan
|
Term |
APR* |
| 10 years | 6.625% |
| 7 years | 6.125% |
| 5 years | 5.625% |
| Fixed principle and interest payments |
| Loan to value (LTV) ratios up to 80% |
| LTV ratios up to 90% will be accepted for American Savings, FSB mortgage customers |
| No fees to open! |
| 3-year pre-payment penalty of loan set up fees (approximately $350) |
* Example APRs are based on a typical loan of $50,000. With a 10-year rate at 6.625%, this loan would have 120 monthly principal/interest payments of $570.93.
Home Improvement Loans
Contact an American Savings lender for a rate quote.
| 10 year maximum term |
| $15,000 maximum loan amount |
| Application fee of $100 |
| All home improvement loans are secured by a recorded second mortgage. A verbal title search will be obtained on loans of $2,500 or more and the results of that search will be noted in the loan file. Loans in excess of $7,500 will require a written title search; cost of same to be charged to the borrower. |
Lot Loans
No Fee Rate Locks on
Construction Loans!
The current rate you secure for your construction loan
transfers to your permanent loan.
| Loan to Value | Rate* |
| 80% or less | Primea + 1.00% |
| 80% - 90% | Primea + 1.50% |
| 5 year maximum term |
| Minimum loan amount of $25,000 |
| Application fee of $175 |
| Loan fee: $500 |
| 3rd party fees to be paid by borrower OR |
| Amortize the loan over 10 or 15 years at a fixed rate |
| 1.00% over stated fixed rates for a loan to value (LTV) ratio of 80% or less |
| 1.50% over stated fixed rates for an LTV of 80% to 90% |
a Prime Rate based on rate as published in the Wall Street Journal.
Back to top
Vehicle Loans
Here are some example rates. Contact an American Savings lender for a specific rate quote on anything beyond these parameters.
| Year | Term | Rate* |
| NEW | 36 mo. | 5.50% |
| 2008 - 2007 | 48 mo. | 6.00% |
| 2008 - 2007 | 60 mo. | 6.25% |
| 2008 - 2007 | 72 mo. | 7.00% |
| 2006 | 60 mo. | 6.25% |
| 2005 | 60 mo. | 6.50% |
| $29 origination fee on purchases; $100 origination fee on refinances |
| 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. |
* A 2008 model year vehicle valued at $25,000 financed over 5 years would earn a rate of 6.250% and result in 60 monthly principal/interest payments of $486.23.
Rates also available for other vehicles such as:
| Motorcycles |
| Wave Runners |
| Snowmobiles |
| Motor Homes |
| Campers / Travel Trailers |
| Boats and Boat Trailers |
|
|
|
|
