PAY YOUR MORTGAGE

Making a payment on your mortgage can be done in one of 4 ways listed below. Please contact us with any question or if we can be of assistance.

Mail in payment
Make payment in person at any of our offices
Transfer Management - Auto pay from a checking account at Central Federal or any other association - Click HERE for form
Pay By Phone ($5 Fee each occurrence)

MORTGAGE LOANS FOR

1-4 Family Owner-Occupied Properties

Central Federal Savings offers the following mortgage loan options:

APPLY NOW

PRE-APPROVAL THROUGH LOCK & SHOP

Interest rate and payments remain the same for the life of the loan. Rates and APR’s may vary depending on Credit Score, Property Type, Loan Purpose and Loan to Value. All loans subject to credit approval. A discount point may be paid to lower the interest rate. Call for details. Up to 97% financing is available for owner-occupied single family residences.

Loan Type	Interest Rate	APR*	Estimated Payment
30 Year Fixed Rate	6.375%	6.464%	360 pmts./$1,029.39
20 Year Fixed Rate	6.250%	6.367%	240 pmts./$1,206.03
15 Year Fixed Rate	5.875%	6.017%	180 pmts./$1,381.25
10 Year Fixed Rate	5.750%	5.950%	120 pmts./$1,811.19

*Rates, APR's, and payments are based on a loan amount of $165,000, 30% equity, single-family residence, purchase, and credit score of 740 or above. Higher rates may apply for credit scores under 740. Rates are subject to change at any time.

Adjustable Rate Mortgage

Interest rate and payments adjust during the life of the loan. Rates and APR’s may vary depending on Credit Score, Property Type, Loan Purpose and Loan to Value. All loans subject to credit approval. A discount point may be paid to lower the interest rate. Call for details. Up to 97% financing is available for owner-occupied single family residences.

Loan Type	Interest Rate	APR*	Estimated Payment
30 Year 1/1 Adjustable Rate	6.250%	7.020%	360 pmts./$1,015.93
30 Year 3/1 Adjustable Rate	6.375%	6.928%	360 pmts./$1,029.39
30 Year 5/1 Adjustable Rate	6.500%	6.890%	360 pmts./$1,042.91
30 Year 7/1 Adjustable Rate	6.625%	6.896%	360 pmts./$1,056.51

Down Payment Assistance Program

If you want to buy a home and have a steady income and good credit, Central Federal and the Federal Home Loan Bank of Chicago can help. Through the Downpayment Plus Program, up to $10,000 may be available to eligible homebuyers in 2024 to use toward down payment and closing costs. Ask one of our loan officers today about the Downpayment Plus Program to discuss eligibility.

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