Home Equity Loans

A Home Equity Line of Credit may result in a balloon payment at maturity.

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 6/09/25, the Wall Street Journal Prime Rate was 7.50%.  Therefore, P+1.00% means 1.00% in excess of the Wall Street Journal Prime Rate, or 8.50% 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 5.25% 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 Credit 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.