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CentralFederal Savings and Loan Association

Banner picture for the Mortgages page for Central Federal Savings and Loan

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.

  1. Mail in payment
  2. Make payment in person at any of our offices
  3. Transfer Management - Auto pay from a checking account at Central Federal or any other association - Click HERE for form
  4. 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:


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 TypeInterest RateAPR*PointsEstimated Payment
30 Year Fixed Rate3.000%3.059%0360 pmts./$695.65
20 Year Fixed Rate3.000%3.083%0240 pmts./$915.09
15 Year Fixed Rate2.625%2.730%0180 pmts./$1,109.94

10 Year Fixed Rate

2.625%2.778%0

120 pmts./$1,564.85

*Rates, APR's and payments are based on the following: Loan amount: $165,000 20% equity, single family residence, purchase and credit score of 740 or above. Higher rates may apply for credit scores under 740. Rates subject to change at any time.

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 TypeInterest RateAPR*PointsEstimated Payment
30 Year 7/1 Adjustable Rate2.750%5.297%0360 pmts./$673.60


*Rates, APR's and payments are based on the following: Loan amount: $165,000, 20% equity, single family residence, purchase and credit score of 740 or above. Higher rates may apply for credit scores under 740. Rates subject to change at any time.

For our customers who require a loan greater than $510,400, a jumbo loan may be right for you. 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 80% financing is available for owner-occupied single family residences.

Loan TypeInterest RateAPR*PointsEstimated Payment
30 Year Fixed Rate3.000%3.026%0360 pmts./$2,151.87
20 Year Fixed Rate3.000%3.036%0

240 pmts./$2,830.67

15 Year Fixed Rate2.625%2.669%0180 pmts./$3,433.41
10 Year Fixed Rate

2.625%

2.690%0120 pmts./$4,840.61
7/1 Adjustable Rate2.750%5.297%0360 pmts./$2,083.67


*Rates, APR's and payments are based on the following: Loan amount: $510,401 20% equity, single family residence, purchase and credit score of 740 or above.  Higher rates may apply for credit scores under 740. Rates subject to change at any time.

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 $6,000 may be available to eligible homebuyers in 2020 to use toward down payment and closing costs. Ask one of our loan officers today about the Downpayment Plus Program to discuss eligibility.

Picture of a house on a keychain

Wondering what information you need when applying for a loan? Take a look at our Mortgage Application Checklist.


LOAN OFFICERS

Maricela TorresSmall icon for Facebook
Senior Mortgage Loan Officer
NMLS#463320
Berwyn Branch

Cell: 773-750-0500
Office: 708-416-3661
mtorres@centralfederalsavings.com

APPLY NOW


Michelle AndrowskiSmall icon for Facebook
Mortgage Loan Originator
NMLS#1683468
LaGrange Park Branch

Cell: 815-342-2654
Office: 708-469-3255
mandrowski@centralfederalsavings.com

APPLY NOW






Natalie CarmonaSmall icon for Facebook
Mortgage Loan Originator
NMLS#1497653
Cicero Branch

Cell: 708-209-7775
Office: 708-656-5000
ncarmona@centralfederalsavings.com

APPLY NOW


Carrie JustinSmall icon for Facebook
Mortgage Loan Originator
NMLS#2018454
LaGrange Park Branch

Cell: 630-272-5792
Office: 708-656-5000
cjustin@centralfederalsavings.com

APPLY NOW


Cicero

5953 W. Cermak Road
Cicero, IL 60804
708-656-5000

Berwyn

6940 W. Ogden Avenue
Berwyn, IL 60402
708-222-2300

La Grange Park

1921 E. 31st Street
La Grange Park, IL 60526
708-469-3250