Home Equity Loans

Home Equity Loans

Home Equity Loans and Home Equity Line of Credit

Planning home improvements or hoping to consolidate high-rate credit card debt? Would you like to have funds available for a large purchase or to pay educational expenses? The American Chartered Bank Home Equity Line of Credit is an excellent way to utilize the borrowing power of your house to meet your needs. You pay interest only on the amount borrowed and benefit from one of the lowest interest rates available! Additionally, Home Equity Loans and Home Equity Lines of Credit are often tax deductible, further reducing your effective borrowing cost.* Home Equity Loans are also available with a fixed rate option and with amortization schedules up to 30 years.

One of our knowledgeable Banking Associates can assist you with the entire home financing process, explaining the options that best meet your personal financial needs.

Home Equity Line of Credit

Provides the flexibility to borrow and pay back as often as you like throughout the term of the loan
Can be secured by either a first or second mortgage on your home. (An additional discount is applied for a first mortgage lien)
Carries a term of five (5) years^**
Annual fee is waived in the first year
No application fees or closing costs for primary residences in Illinois

Home Equity Loan

Available terms up to 10 years with amortization schedules up to 30 years^**
Fixed or variable rates available
No application fees or closing costs for primary residences in Illinois

For additional information or to complete an application, please contact us at 847.407.2300 or stop by any of our convenient locations!

*The interest portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Consult with your tax advisor regarding the deductibility of interest payments and charges. Note: Rates and terms are subject to change. ** Please review important Home Equity disclosures by clicking here.

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