loan rates
rates effective as of january 24, 2023
Mortgage Loans
TERM |
RATE |
APR |
| 10 Year Fixed | As low as 6.125% | As low as 6.270% |
| 15 Year Fixed | As low as 6.250% | As low as 6.353% |
| 20 Year Fixed | As low as 6.375% | As low as 6.457% |
| 30 Year Fixed | As low as 6.875% | As low as 6.939% |
*Mortgage Quick Pricer does not imply approval or a definitive rate quote.
**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 45-60 days.
SECOND MORTGAGES
FIXED RATE SECOND MORTGAGES
TERM |
RATE |
APR |
| 3 Year Fixed |
|
|
|
5 Year Fixed |
||
| 7 Year Fixed |
|
|
| 10 Year Fixed |
|
|
|
15 year Fixed |
Rates are fixed and based on a second mortgage for $50,000. ($50 in 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) |
|
| Home Equity Line of Credit (Up to 90% LTV) |
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 |
| 2022-2023 |
Up to 66 months |
As low as 4.30% |
|
2022-2023 |
67-75 months |
As low as 4.80% |
|
2022-2023 |
76-79 months |
As low as 5.30% |
|
2022-2023 |
80-84 months |
As low as 6.05% |
|
2017-2021 |
Up to 63 months |
As low as 4.60% |
|
2017-2021 |
64-75 months |
As low as 5.10% |
|
2016 and older |
Up to 63 months |
As low as 5.35% |
|
2016 and older |
64-75 months |
As low as 5.85% |
*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 8.74% |
|
$1,000.01-$25,000 |
24 months |
As low as 9.74% |
|
$2,000.01-$25,000 |
36 months |
As low as 10.24% |
|
$3,000.01-$25,000 |
48 months |
As low as 10.74% |
|
$5,000.01-$25,000 |
60 months |
As low as 11.49% |
|
72 months |
As low as 11.99% |
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 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 7.44% |
|
$5,000-$9,999 |
up to 60 months |
As low as 6.94% |
|
$10,000 or more |
up to 60 months |
As low as 5.94% |
|
$10,000 or more |
up to 72 months |
As low as 6.65% |
Increase rate by .50% for units 5 years old or older. 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 6.55% |
|
$25,000-$39,999 |
Up to 96 months |
As low as 6.80% |
|
$40,000-$59,999 |
Up to 108 months |
As low as 7.05% |
|
$60,000+ |
Up to 120 months |
As low as 7.30% |
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 7.15% |
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.
