so please check back often.
Look for special programs for first time buyers (IHDA Mortgages), Reverse Mortgages for seniors, and much more. We have many programs so if you don’t see the one you want, just call us at 312-491-7131 or e-mail us.
| Mortgage Rates - May 24, 2013 | |||||
|
Product Name
. |
Maximum Loan
Amount ($) |
Rate (%)
. |
Points (%)
. |
APR (%)
. |
Lock Days
. |
|
417,000
|
3.875
|
0
|
3.902
|
45
|
|
|
417,000
|
3.750
|
0
|
3.787
|
45
|
|
|
417,000
|
3.000
|
0
|
3.042
|
45
|
|
|
650,000
|
2.875
|
0
|
2.904
|
45
|
|
|
650,000
|
4.625
|
0
|
4.651
|
45
|
|
|
417,000
|
2.875
|
0
|
2.897
|
45
|
|
|
417,000
|
2.875
|
0
|
2.965
|
45
|
|
|
410,000
|
3.250
|
0
|
4.139
|
45
|
|
|
410,000
|
2.500
|
0
|
3.675
|
45
|
|
| APR = Annual Percentage Rate | |||||
The list above represents a small sampling of our loan products. If you do not see the product you are looking for, call 1-888-790-4600 ext. 7131 or contact us. To view details on any product, click on the product name. Rates subject to change without notice at any time, so please confirm the rate at 1-888-790-4600 ext.7131 when you apply.
This is a conventional 30-year loan for owner occupied properties. There is no prepayment penalty. The Annual Percentage Rate (APR) calculation is based on a $417,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required. However, similar loans are available with much lower down payments. Please call (312) 491-7131 for more information.
Loans must meet FannieMae/FHLMC requirements for income, debt, credit and property appraisal.
This is a conventional 20-year loan for owner occupied properties. There is no prepayment penalty. The Annual Percentage Rate (APR) calculation is based on a $417,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required. However, similar loans are available with much lower down payments.
Loans must meet FannieMae/FHLMC requirements for income, debt, credit and property appraisal.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a conventional 15-year loan for owner occupied properties. There is no prepayment penalty. The Annual Percentage Rate (APR) calculation is based on a $417,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required. However, similar loans are available with much lower down payments.
Loans must meet FannieMae/FHLMC requirements for income, debt, credit and property appraisal.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a non-conforming 30-year loan for owner occupied properties. There is no prepayment penalty. The Annual Percentage Rate (APR) calculation is based on a $650,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required. The rate is fixed for the first 5 years and adjusts annually for the remainder of the 30-year term. The rate can change 5% after 60 months, 2% every following year, but can only rise by 5% (above the start rate) over the life of the loan.
These loan details should not be considered an adjustable rate disclosure, which would be provided at time of application.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a non-conforming 30-year loan for owner occupied properties. There is no prepayment penalty. The Annual Percentage Rate (APR) calculation is based on a $650,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a conventional 30-year loan for owner occupied properties. There is no-prepayment penalty. The rate is fixed for the first 5 years and adjusts annually for the remainder of the 30-year term. The rate can change 5% after 60 months, 2% every following year, but can only rise by 5% (above the start rate) over the life of the loan. The Annual Percentage Rate calculation is based on a $417,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required. However, similar loans are available with much lower down payments.
Loans must meet FannieMae/FHMLC requirements for income, debt, credit and property appraisal. These loan details should not be considered an adjustable rate disclosure, which would be provided at time of application.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a conventional 30-year loan for owner occupied properties. There is no-prepayment penalty. The rate is fixed for the first 7 years and adjusts annually for the remainder of the 30-year term. The rate can change 5% after 84 months, 2% every following year, but can only rise by 5% (above the start rate) over the life of the loan. The Annual Percentage Rate calculation is based on a $417,000 loan with the interest rate and points listed on the chart. The calculation assumes a 20% down payment, with no mortgage insurance required. However, similar loans are available with much lower down payments.
Loans must meet FannieMae/FHMLC requirements for income, debt, credit and property appraisal. These loan details should not be considered an adjustable rate disclosure, which would be provided at time of application.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a Federal Housing Administration (FHA) 30-year loan for owner occupied properties. There is no-prepayment penalty.
The Annual Percentage Rate (APR) calculation is based on a $410,000 loan with the interest rate and points listed on the chart. The calculation assumes that this is a maximum loan to value purchase where the up front mortgage insurance is financed in the transaction.
Loans must meet FHA requirements for income, debt, credit and property appraisal.
Click here to apply online.
Call (312) 491-7131 for more information.
This is a Federal Housing Administration (FHA) 30-year loan for owner occupied properties. There is no-prepayment penalty. The rate is fixed for the first 5 years and adjusts annually for the remainder of the 30-year term. Your interest rate can increase or decrease by up to 1.0% every 12 months. Your interest rate cannot increase or decrease more than 5.0% (from the start rate) over the life of the loan. The change in the interest rate will change your monthly payment.
The Annual Percentage Rate (APR) calculation is based on a $410,000 loan with the interest rate and points listed on the chart. The calculation assumes that this is a maximum loan to value purchase where the up front mortgage insurance is financed in the transaction.
Loans must meet FHA requirements for income, debt, credit and property appraisal.
Click here to apply online.
Call (312) 491-7131 for more information.
South Central Bank enjoys a good working relationship with the Illinois Housing Authority. If you are interested in either the I-Loan Mortgage (MRB) Program or the I-Loan Certificate (MCC) Program, click here to visit the IHDA web site for more information.
I-Loan Certificate (MCC) Program
Click here to apply online.
Call (312) 491-7131 for more information.
South Central Bank offers over several different loan Jumbo and niche products to serve your individual needs. As a FannieMae seller/servicer, we offer a wide selection of conventional loan products, including fixed rate, adjustable rate and low down payment loans and first time home buyer loans from the Illinois Housing Development Authority. As an approved HUD/FHA Title II lender, South Central Bank has an in-house staff of direct endorsement underwriters to ensure your loan is underwritten quickly. And through our own portfolio and network of national lenders, South Central Bank has dozens of jumbo and niche products to serve your individual needs.
If you have found a home or just want to get pre-approved, Start Here.
You can do part of the application now, save it, and return later. Or you can start the application and we can help you finish it. When you get pre-approved, you can get the home of your dreams faster.
Click here to apply online.
Call (312) 491-7131 for more information.
