loan rates

rates effective as of september 21, 2020.

 

Mortgage Loans

TERM

RATE

APR

 10 Year Fixed  As low as 2.625%   As low as 2.865%
 15 Year Fixed  As low as 2.625%  As low as 2.712%
 20 Year Fixed  As low as 2.875%   As low as 3.020%
 30 Year Fixed  As low as 3.000%  As low as 3.117%

 APR (Annual Percentage Rate) based on $100,000 loan. On a 30 year fixed at 4.500%, the monthly payment would be $5.06 per $1000 financed. Rates are our lowest available as of the date above and subject to change without notice.  Your rate is determined by individual circumstances and may be higher. Closing cost, mortgage insurance and taxes are additional costs and may raise your payment obligation. Up to 97% Loan to Value (LTV) available for purchases by qualified buyers. Up to 95% LTV available for rate/term refinances. Up to 80% LTV available for cash out refinances.

Approximate time for most transactions is less than 45 days.

 

 

SECOND MORTGAGES

 

FIXED RATE SECOND MORTGAGES

 TERM

 RATE

 APR

 3 Year Fixed as low as 3.910% as low as 3.980%
 5 Year Fixed as low as 4.040% as low as 4.080%
 7 Year Fixed as low as 4.250% as low as 4.280%
10 Year Fixed as low as 5.450% as low as 5.470%
15 year Fixed as low as 5.950% as low as 5.970%

Rates are fixed and based on a second mortgage for $50,000. ($350in loan fees included with APR) with a loan to value of 80% and 730 credit score. Rates are our lowest available as of the date above and subject to change without notice.  

Approximate time for most second mortgage transactions is 30 days. 

 

 

HOME EQUITY LOAN AND HOME EQUITY LINE OF CREDIT (HELOC)

 Type of Second Mortgage

 Annual Percentage Rate 

Home Equity Loan (Up to 95% LTV)

 As low as 4.000%
Home Equity Line of Credit (Up to 90% LTV)  As low as 4.500%

Up to 95% Loan to Value (LTV) is available for purchases to qualified buyers. Rate is determined by individual circumstances and may be higher. Rates are our lowest available as of the date above and subject to change without notice.  HELOC = Home Equity Line of Credit.

Approximate time for most second mortgage transactions is 30 days.

 

 

Vehicle and Boat Loan Rates

Model Year

Term

Annual Percentage Rate 

2019-2020

Up to 66 months

As low as 1.99%

2019-2020

67-75 months

As low as 2.49%

2019-2020

76-79 months

As low as 2.99%

2019-2020

80-84 months

As low as 3.74%

2015-2018

Up to 63 months

As low as 2.24%

2015-2018

64-75 months

As low as 2.74%

2014 and older

Up to 63 months

As low as 2.79%

2014 and older

64-75 months

As low as 3.29%

*84 months require a minimum loan of $30,000

Loan rates are in effect as of the date shown. Rates are our lowest available and are subject to change without notice. Rates shown include a .25% discount on secured loans with a loan to value less than 90% and.25% discount for using one of Mid-Illini's automatic payment options. Your rate is determined by individual circumstances and may be higher.

 

Signature or Unsecured Loans

Loan Amount

Term

Annual Percentage Rate 

Up to $25,000

12 months

As low as 8.50%

$1,000.01-$25,000

24 months

As low as 9.50%

$2,000.01-$25,000

36 months

As low as 10.25%

$3,000.01-$25,000

48 months

As low as 10.75%

$5,000.01-$25,000

60 months

As low as 11.25%

Loan rates are in effect as of the date shown. Rates are our lowest available and are subject to change without notice. Rates shown include a .25% discount for using one of Mid-Illini's automatic payment options. Your rate is determined by individual circumstances and may be higher.

 

 

Motorcycle, Scooter, Snowmobile, Personal Watercraft, and ATVs

Loan Amount

Term

Annual Percentage Rate  

Up to $4,999

Up to 48 months

As low as 6.44%

$5,000-$9,999

up to 60 months

As low as 5.94%

$10,000 or more

up to 60 months

As low as 4.94%

$10,000 or more

up to 72 months

As low as 5.65%

Increase rate by .50% for 2015 and older units. Loan rates are in effect as of the date shown. Rates are our lowest available and are subject to change without notice. Rates shown include a .25% discount on secured loans with a loan to value less than 90% and.25% discount for using one of Mid-Illini's automatic payment options. Your rate is determined by individual circumstances and may be higher.

 

 

Recreational Vehicles

Loan Amount

Term

Annual Percentage Rate 

up to $24,999

Up to 84 months

As low as 4.24%

$25,000-$39,999

Up to 96 months

As low as 4.49%

$40,000-$59,999

Up to 108 months

As low as 4.74%

$60,000+

Up to 120 months

As low as 4.99%

Loan rates are in effect as of the date shown. Rates are our lowest available and are subject to change without notice. Rates shown include a .25% discount on secured loans with a loan to value less than 90% and a .25% discount for using one of Mid-Illini's automatic payment options. Your rate is determined by individual circumstances and may be higher.

 

 

Secured Loans

Type

Loan Amount

Term

Annual Percentage Rate 

Loan secured by Mid-Illini funds on deposit

Loan amount based on funds on deposit and credit tier

up to 60 months

As low as 4.24%

Loan rates are in effect as of the date shown. Rates are our lowest available and are subject to change without notice. Rates shown include a .25% discount for using one of Mid-Illini's automatic payment options. Your rate is determined by individual circumstances and may be higher.

 

*All Loan Rates are effective as of the date shown and are subject to change without notice.