Interested in a Central Federal Home Equity Loan? | APPLY NOW |
If you would like to lock in a rate soon, we encourage you to contact us as they may change without notice.
Rates are effective as of March 20, 2023
Loan Type | Interest Rate | APR* | Points | Estimated Payments |
---|---|---|---|---|
Loan Type: 30 Year Fixed Rate | 6.500% | 6.590% | Points: 0 | Estimated Payments: 360 pmts./$1,042.91 |
Loan Type: 20 Year Fixed Rate | 6.375% | 6.493% | Points: 0 | Estimated Payments: 240 pmts./$1,218.08 |
Loan Type: 15 Year Fixed Rate | 5.875% | 6.017% | Points: 0 | Estimated Payments: 180 pmts./$1,381.25 |
Loan Type: 10 Year Fixed Rate | 5.750% | 5.950% | Points: 0 | Estimated Payments: 120 pmts./$1,811.19 |
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.
*Rates, APRs, and payments are based on the following: Loan amount: $165,000, 25% equity, single family residence, purchase and credit score of 740 or above.
Higher rates may apply for loan amounts over $726,200.
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. Click HERE for Central Federal's Mortgage Checklist.
Loan Type | Interest Rate | APR* | Points | Estimated Payment |
---|---|---|---|---|
30 Year 1/1 Adjustable Rate | 5.250% | 7.551% | 0 | 360 pmts./$911.14 |
30 Year 3/1 Adjustable Rate | 5.375% | 7.182% | 0 | 360 pmts./$923.95 |
30 Year 5/1 Adjustable Rate | 5.750% | 7.029% | 0 | 360 pmts./$962.90 |
30 Year 7/1 Adjustable Rate | 5.875% | 6.860% | 0 | 360 pmts./$976.04 |
*Rates, APR's and payments are based on the following: Loan amount: $165,000, 25% equity, single family residence, purchase and credit score of 740 or above. Higher rates may apply for loan amounts over $726,200. Rates subjuect to change at any time.
For our customers who require a loan greater than $726,200 , 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. Click HERE for Central Federal's Mortgage Checklist.
Loan Type | Interest Rate | APR* | Points | Estimated Payment |
---|---|---|---|---|
30 Year Fixed Rate | 6.500% | 6.540% | 0 | 360 pmts./$4,590.08 |
20 Year Fixed Rate | 6.375% | 6.427% | 0 | 240 pmts./$5,361.05 |
15 Year Fixed Rate | 5.875% | 5.936% | 0 | 180 pmts./$6,079.16 |
10 Year Fixed Rate | 5.750% | 5.836% | 0 | 120 pmts./$7,971.45 |
1/1 Adjustable Rate | 5.250% | 7.499% | 0 | 360 pmts./$4,010.11 |
3/1 Adjustable Rate | 5.375% | 7.132% | 0 | 360 pmts./$4,066.52 |
5/1 Adjustable Rate 7/1 Adjustable Rate | 5.750% 5.875% | 6.980% 6.811% | 0 0 | 360 pmts./$4,237.91 360 pmts./$4,295.75 |
Rates, APR's and payments are based on the following: Loan amount: $726,201 25% equity, single family residence, purchase and credit score of 740 or above. Rates subjuect to change at any time.
The maximum loan-to-value (LTV) available for a non-owner occupied 1-2 family investment property Purchase/No Cash-out refinance is 80% and 3-4 family investment property Purchase/No Cast-out refinance is 75%.
Call 708-656-5000 for current rates and loan terms or email us at loans@centralfederalsavings.com.
The maximum loan-to-value (LTV) available for a multi-family (5+ units) or mixed use property is 75%. Property must have a positive cash flow. For a mixed use property, the store front permitted usage is limited and must represent less than 50% of the total square footage.
Call 708-656-5000 for current rates and loan terms or email us at loans@centralfederalsavings.com.
The minimum loan amount is $25,000. The maximum combined loan-to-loan value (CLTV) available for a home equity loan is 75% provided the property is owner occupied and Central Federal Savings has the first mortgage, or there is no other mortgage.
Call 708-656-5000 for current rates and loan terms or email us at loans@centralfederalsavings.com.
General HELOC Requirements and Parameters
Call 708-656-5000 for current rates and loan terms or email us at loans@centralfederalsavings.com.
5953 W. Cermak Road
Cicero, IL 60804
708-656-5000
6940 W. Ogden Avenue
Berwyn, IL 60402
708-222-2300
1921 E. 31st Street
La Grange Park, IL 60526
708-469-3250