330 W. Butterfield Rd. at Spring Road  |  133 N. York Rd. At Schiller St.  |  TEL:630.782.1234 |
Home Equity Loans

Effective 04-21-14

(Rates are Subject to Change Without Notice)

 

Loan Type Loan-to-Value Loan Amount Max. Maturity Closing Costs Annual Percentage Rate
Home Equity Installment Loans (min. loan amount $5,000)        
Owner Occupied 80% or less $5,000+ 36 Months None 6.00%
  80% or less $5,000+ 60 Months None 6.25%
  80% or less $5,000+ 120 Months None 6.50%
  80% or less $5,000+ 180 Months None 6.75%
           
Non-Owner Occupied 70% or less $5,000+ 36 Months None 7.00%
  70% or less $5,000+ 60 Months None 7.25%
  70% or less $5,000+ 120 Months None 7.50%
  70% or less $5,000+ 180 Months None 7.75%
           
Home Equity Line of Credit (min. loan amount $10,000)        
Fixed Rate/Owner Occupied 80% or less $10,000+ 60 Months None 8.00%
           
Variable Rate/Owner Occupied 80% or less $10,000+ 84 Months** None P+1.25% *
           
           
           
           

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A payment example for a home equity installment loan with the fixed annual percentage rate (APR) of 6.50%, in an amount of $75,000.00, 10 year term, with an 80% combined loan-to-value would be as follows: you will make 120 monthly payments of $851.61. If you chose to have your rate reduced .25% by authorizing us to have your loan payment auto-debited you will make 120 monthly payments of $842.10.

 

P=the Wall Street Journal Prime Rate, the base rate on corporate loans posted by at least 75% of the Nation's 30 largest banks.  As of 04/21/14, the Wall Street Journal Prime Rate was 3.25%.  Therefore, P+1.00% means 1.00% in excess of the Wall Street Journal Prime Rate, or 4.25% Annual Percentage Rate.

 

Extensions of credit are subject to credit approval.

 

* The maximum annual percentage rate on a Variable Rate Home Equity Line of Credit is 18.00%.  The interest rate on variable rate loan products may increase after the loan's inception.

 

With automatic deduction of the monthly payment from a Checking, NOW, or Savings account at Community Bank of Elmhurst, deduct 0.25% from the above Annual Percentage Rates.  There is a 4.25% minimum Annual Percentage Rate and an 18.00% maximum Annual Percentage Rate.  Non-Owner Occupied rates are 1.00% higher than the above 80% Loan-to-Value rates.  The maximum Loan-to-Value on a Non-Owner Occupied loan is 70%.  An Annual Fee of $45.00 will be waived the first year and assessed annually thereafter on the anniversary date of the Home Equity Line of Credit (variable rate HELOC).  **A $450.00 early termination fee will be charged for Home Equity Lines of Credt that are terminated in less than 2 years.  

 

Please call us at (630)782-1234 for other rates, current promotions, or for answers to any other question.

 

Community Bank of Elmhurst    tel: 630.782.1234    fax: 630.782.1232
"Community-Bank-By-Phone" number is 1.877.929.1500

 

Community Bank of Elmhurst is one of the few independently-owned, community oriented banks in DuPage County. Our Board of Directors and Staff are committed to the community we serve. We are all from the area and have a combined total of over 275 years of Elmhurst banking experience. We believe in putting the people back into banking.

 

Copyright 2010 by Community Bank of Elmhurst

Privacy Statement

330 W. Butterfield Rd at Spring Road
tel: 630.782.1234
fax: 630.782.1232
Elmhurst, Il 60126
Lobby:
Monday - Thursday 9:00a.m. - 5:00p.m.
Friday 9:00a.m. - 6:00p.m.
Saturday 9:00a.m. - 1:00p.m.
Drive - Up:
Monday - Friday 7:00a.m. - 7:00p.m.
Saturday 7:00a.m. - 1:00p.m

(Map)

133 N. York Rd. at Schiller St.
tel: 630.782.1234
fax: 630.782.1232
Elmhurst, Il 60126
Lobby:
Monday - Friday 8:30a.m. - 6:00p.m.
Saturday 8:30a.m. - 1:00p.m.

(Map)