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CentralFederal Savings and Loan Association

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CURRENT RATES

Central Federal Savings strives to offer the most competitive loan rates to our customers. 

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 December 12, 2017

Fixed Rate Mortgage

Loan TypeInterest RateAPR*PointsEstimated Payments
Loan Type: 30 Year Fixed RateInterest Rate: 3.875%
3.979%
Points: 0Estimated Payments: 360 pmts./$775.89
Loan Type: 20 Year Fixed RateInterest Rate: 3.625%
3.768%
Points: 0Estimated Payments: 240 pmts./$967.57
Loan Type: 15 Year Fixed RateInterest Rate: 3.250%3.345%Points: 0Estimated Payments: 180 pmts./$1,159.40
Loan Type: 10 Year Fixed RateInterest Rate: 3.125%APR: 3.263%Points: 0Estimated Payments: 120 pmts./$1,602.79


Rates and APR's may vary depending on Credit Scores, Property Type, 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 95% financing is available for owner-occupied single family residences.

*Rates, APRs, 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 loan amounts over $424,100.

Adjustable Rate Mortgage

Interest rate and payments adjust during the life of the loan. Rates and APR's may vary depending on Credit Scores, Property Type, 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 95% financing is available for owner-occupied single family residences. Click HERE for Central Federal's Mortgage Checklist.

Loan TypeInterest RateAPR*PointsEstimated Payment
30 Year 7/1 Adjustable Rate3.375%3.828%0Initial pmt./$729.46


*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 loan amounts over $424,100. Rates subjuect to change at any time.

Jumbo Mortgage

For our customers who require a loan greater than $424,100, a jumbo loan may be right for you. Rates and APR's may vary depending on Credit Scores, Property Type, 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 95% financing is available for owner-occupied single family residences. Click HERE for Central Federal's Mortgage Checklist.

Loan TypeInterest RateAPR*PointsEstimated Payment
30 Year Fixed Rate3.875%
3.923%
0360 pmts./$1,994.28
20 Year Fixed Rate3.625%
3.691%
0240 pmts./$2,486.94
15 Year Fixed Rate3.250%3.365%0180 pmts./$2,980.03
10 Year Fixed Rate3.125%3.291%0120 pmts./$4,119.67
7/1 Adjustable Rate3.375%3.801%0360 pmts./$1874.93


*Rates, APR's and payments are based on the following: Loan amount: $424,101, 20% 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

  • Central Federal must hold the first mortgage, or there is no other mortgage.
  • The interest rate is subject to change on a monthly basis based on the prevailing Prime Rate in effect on the last business day of the prior month’s billing cycle, plus the applicable margin.
  • The borrower has access to the line during the initial 10 year period, called the “Advance Period.”  During the Advance Period, the line acts as a revolving credit.
  • The borrower can access the equity line by writing a check in an amount of $250.00 or more.  Monthly payments of “interest only” are required during the Advance Period. Any payment in excess of the interest due will be applied to the principal balance.
  • At the end of the 10 year Advance Period, the unpaid principal balance will be repaid over a 10 year term, called the “Repayment Period.” 

Call 708-656-5000 for current rates and loan terms or email us at loans@centralfederalsavings.com


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