Fixed Rate Mortgage

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, 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. Click HERE for Central Federal's Mortgage Checklist.

*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.

The maximum loan-to-value (LTV) available for a non-owner occupied 1-4 family investment property Purchase/No Cash-out refinance is 80%. 

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) is 80% and for a mixed-use property is 75%. The property must have a positive cash flow. For a mixed-use property, the storefront 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 20 year term, called the “Repayment Period.” 

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