Home Equity Line of Credit

If you need funds for a major expense, you may be sitting on your biggest asset -- literally! Use the equity in your home to take advantage of your ability to borrow at truly great rates. The interest that you pay may be tax deductible, and you can easily draw funds by writing a check.

It makes no difference how you use the money -- you can use it for major purchases, unexpected investment opportunities, tuition expenses, home improvements, debt consolidations, or vacations.

To speak with one of our advisors, contact us online or click on the "Our Team" tab above to contact one of our lenders by phone.

To contact our staff directly:

• Mike Osenglewski- 815-936-7620 - Bourbonnais
• Amy Rettke- 815-936-7621- Bourbonnais
• Nick Simoneau- 815-936-7623 -Bourbonnais
• Robert Shreffler- 815-802-2843 - Kankakee
• Dave Hansing- 815-936-7612 - Bourbonnais

The Rate floats based on the highest Prime Rate published in the Money Section of the Wall Street Journal on the first day of the month. The cap is 18%. The minimum allowed advance is $500. Higher rates may apply if the loan to value is greater than 80%. Interest only monthly may result in a balance due at maturity (balloon). No borrower closing or origination costs for lines $25,000 or greater. Minimum line is $10,000. Lines less than $25,000 require borrower paid closing or origination costs, ranging generally from $166 to $485. Costs apply to non-purchase transactions. All lines have an annual fee of $20 beginning in the second year. Applicable casualty and or flood insurance may be required. Terms of this line apply to owner occupied 1-4 family residence, may be a first or second mortgage and are subject to the bank's credit, collateral and repayment ratios. Interest may be deductible; consult your tax advisor. Interest rate locks available only after receipt of loan application.