Home Equity Loans and Home Equity Line of Credit
Helping you finance your dreams.

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 and Home Equity Loan are 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 ten (10) years.¹
• Annual fee is waived in the first year.
• No application fees or closing costs for properties in Illinois.

Home Equity Loan

• First mortgage financing options are available. Contact your banking Associate for more details!
• Ten (10) year term with amortization schedules up to 30 years.¹
• Fixed or variable rates available.
• No application fees or closing costs for non-purchase properties 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!

*Consult with your tax advisor regarding the deductibility of interest payments.
Note: Rates and terms are subject to change.
1. Please review important Home Equity disclosures by clicking here.