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Rates	Points	APR
Elgin State Bank offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide great interest rates and world class service.

30 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
3/1 ARM
5/1 ARM
7/1 ARM
Jumbo 30 Year Fixed
Jumbo 15 Year Fixed
Jumbo 5/1 ARM up to $650,000
Jumbo 7/1 ARM up tp $650,000
Jumbo 5/1 ARM up to $3,000,000
5/1 ARM Interest Only
7/1 ARM Interest Only
Rates last updated on Friday, November 20, 2009
30 Year Fixed A loan in which the interest rate remains the same for the life of the loan. It amortizes principal and interest over a 30-year period and offers steady monthly payments of principal and interest over the 30-year life of the loan. The principal and interest payment for a $150,000 loan at the current interest rate would be $779.39 for 360 months. Term: 30 years Maximum Amount: $417,000
4.75%	0%	4.837%

20 Year Fixed A loan in which the interest rate remains the same for the life of the loan. It amortizes principal and interest over a 20-year period and offers steady monthly payments of principal and interest over the 20-year life of the loan. The principal and interest payment for a $150,000 loan at the current interest rate would be $955.44 for 240 months. Term: 20 years Maximum Amount: $417,000
Rates	Points	APR
4.625%	0%	4.744%

15 Year Fixed A loan in which the interest rate remains the same for the life of the loan. It amortizes principal and interest over a 15-year period and offers steady monthly payments of principal and interest over the 15-year life of the loan. The principal and interest payment on a $150,000 loan at the current interest rate would be $1,128.42 for 180 months. Term: 15 years Maximum Amount: $417,000
Rates	Points	APR
4.25%	0%	4.4%

10 Year Fixed A loan in which the interest rate remains the same for the life of the loan. It amortizes principal and interest over a 10-year period and offers steady monthly payments of principal and interest over the 10-year life of the loan. The principal and interest payment on a loan amount of $150,000 at the current interest rate would be $1,536.56 for 120 months. Term: 10 years Maximum Amount: $417,000
Rates	Points	APR
4.25%	0%	4.465%

3/1 ARM An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 3 years. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The principal and interest payment on a $150,000 loan at the current interest rate would be $684.08 during the initial 36 month period, and $664.83 thereafter based on the current index. Term: 30 years Maximum Amount: $417,000
Rates	Points	APR
3.625%	0%	3.497%

5/1 ARM An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 5 years. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The principal and interest payment on a $150,000 loan at the current interest rate would be $671.61 during the initial 60 month period, and thereafter the monthly payment would be $660.00 based on the current index. Term: 30 years Maximum Amount: $417,000
Rates	Points	APR
3.5%	0%	3.488%

7/1 ARM An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 7 years. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The principal and interest payment for a $150,000 loan at the current interest rate would be $703.09 during the initial 84 month period, and thereafter the payment would be $675.05 based on the current index. Term: 30 years Maximum Amount: $417,000
Rates	Points	APR
3.875%	0%	3.682%

Jumbo 30 Year Fixed A loan in which the interest rate remains the same for the life of the loan. It amortizes principal and interest over a 30-year period and offers steady monthly payments of principal and interest over the 30-year life of the loan. The principal and interest payment for a $650,000 loan at the current interest rate would be $3,775.13 for 360 months. Term: 30 years Maximum Amount: $1,000,000
Rates	Points	APR
5.75%	0%	5.798%

Jumbo 15 Year Fixed A loan in which the interest rate remains the same for the life of the loan. It amortizes principal and interest over a 15-year period and offers steady monthly payments of principal and interest over the 15-year life of the loan. The principal and interest payment for a $650,000 loan at the current interest rate would be $5,286.81 for 180 months. Term: 15 years Maximum Amount: $1,000,000
Rates	Points	APR
5.5%	0%	5.655%

Jumbo 5/1 ARM up to $650,000 An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 5 years. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The principal and interest payment for a $650,000 loan at the current interest rate would be $3,425.94 during the initial 60 month period, and thereafter the payment would be $2,988.62 based on the current index. Term: 30 years Maximum Amount: $650,000
Rates	Points	APR
4.875%	0%	4.109%

Jumbo 7/1 ARM up tp $650,000 An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 7 years. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The principal and interest payment for a loan of $650,000 at the current interest rate would be $3,524.11 during the initial 84 month period, and thereafter the monthly payment would be $3,048.23 based on the current index. Term: 30 years Maximum Amount: $650,000
Rates	Points	APR
5.125%	0%	4.452%

Jumbo 5/1 ARM up to $3,000,000 An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 5 years. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The principal and interest payment for a $1,000,000 loan at the current interest rate would be $5,368.22 during the initial 60 month period, and thereafter the payment would be $4,847.02 based on the current index. Term: 30 years Maximum Amount: $3,000,000
Rates	Points	APR
4.625%	0%	4.245%

5/1 ARM Interest Only An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 5 years, during which the payments are interest only. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The interest only payment on a $150,000 loan at the current interest rate would be $484.38 during the initial 60 month period, and thereafter the payment is $740.92 based on the current index. Term: 30 years Maximum Amount: $417,000
Rates	Points	APR
3.875%	0%	3.622%

7/1 ARM Interest Only An adjustable-rate mortgage (ARM) with an initial fixed interest rate period of 7 years, during which the payments are interest only. The interest rate then adjusts annually, based on the London Inter-Bank Offered Rate (LIBOR) index, and can move up or down as market conditions change. The interest only payment is $515.63 during the initial 84 month period, based on a loan amount of $150,000 at the current interest rate, and thereafter the payment would be $782.17 based on the current index. Term: 30 years Maximum Amount: $417,000
Rates	Points	APR
4.125%	0%	3.87%

The above interest rates are for a 30 day lock and based on a 720 FICO score. Longer term locks are available. Interest rates quoted are for conventional loans for owner occupied single family residences and include escrows for real estate taxes and homeowners insurance. Annual Percentage Rate (APR) is based on a loan amount of $150,000.00 for conforming loans. The APR is figured with a 20% downpayment and zero discount points. A down payment of less than 20% may require mortgage insurance and may increase the APR. Downpayment requirements may vary. Interest rates and terms subject to change without notice and may differ depending on credit scores and loan scenarios. All loans are subject to credit approval.
Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $150,000 with closing costs of $1,500. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $650,000 with closing costs of $3,400. Your actual APR may be different depending upon these factors.