Home Mortgage Loans

 

First Mortgage

At Heritage Bank of Schaumburg we believe choosing the right mortgage is as important as choosing the right house. We’re experienced in real estate lending. One of our professional mortgage loan officers will answer all your questions, and help to inform you on advantages of each type of loan we offer. We will personally help you each step of the way, beginning with your application through your loan closing. We simply make it easy.

Fixed rate, adjustable rate and balloon mortgages offered at various terms

  • Extended locks
  • Jumbo mortgages
  • Investment property mortgages
  • Bridge loans
  • Lot loans
  • Construction loans

Home Equity

Let us help you use the equity in your home to your advantage. With our quick turn around time, we can help you consolidate debt, buy something new, or just have money available for future needs. Based on your needs, we can offer you a fixed rate term loan or a variable rate line of credit. Whatever you choose, it will be the right loan for you. (Remember, home equity loan interest may be tax deductible, so please consult your tax advisor.)

1. Fixed rate Home Equity Loan (1-4 Family Owner Occupied)

  • No application fee or closing costs
  • 2 - 7 year term
  • Call one of our Loan Officers for current rates
  • Reduced rates for loans with an automatic payment from a Heritage Bank account
  • Call one of our lending officers for current rates at 847.524.4000 or contact us at loanoperations@hbschaumburg.com
  • Make fixed monthly payments of principal and interest
  • Up to 80% Loan-to-Value
  • Minimum loan amount of $5,001.00

2. Variable Rate Home Equity Line of Credit (1-4 Family Owner Occupied)

  • No application fee or closing costs
  • 7 year term
  • Rate is prime* with a floor of 4.75%
  • Rate lowered by .25% with an automatic payment from a Heritage Bank account
  • Variable rate index tied to the prime rate published in the Wall Street Journal
  • Annual fee waived for the first year
  • Annual fee $35.00
  • Interest only monthly payments
  • Principal payments will replenish your available line of credit 
  • Up to 75% Loan-to-Value 
  • Minimum line amount of $5,001.00

3. Premier 150 Home Equity Line of Credit (1-4 Family Owner Occupied)

  • No application fee or closing costs
  • 7 year term
  • Rate is prime* minus .25% with a floor of 4.75%
  • Rate lowered by .25% with an automatic payment from a Heritage Bank account
  • Variable rate index tied to the prime rate published in the Wall Street Journal
  • Annual fee waived for the first year
  • Annual fee $35.00
  • Interest only monthly payments
  • Principal payments will replenish your available line of credit
  • Up to 75% Loan-to-Value
  • Minimum line of $150,000.00

4. Investment and Non-Owner occupied loans available.

*  This offer applies only to owner-occupied 1 to 4 family residences.  Homeowners' insurance is required with all mortgage loan products.  Home Equity line of credit rates are based on the Wall Street Journal Prime rate; current prime rate as of October 06, 2009 is 3.25%.  Rates are subject to change monthly and are not to exceed 24.00%.  Please consult your tax advisor about the deductibility of interest. 


 

 

 

 

 Construction

Building your dream home or doing a home addition can be fun and rewarding. We can help finance the land, the construction and even possibly provide you with a very competitive end mortgage. Our experienced lenders will work closely with you and your contractor through the entire process.

  • Up to a 1 year term
  • Loan–to-Value up to 70%
  • Monthly interest only
  • Competitive Pricing