Larry Minutillo
Mortgage Loan Officer, NMLS #503658
How can I help you achieve your home-buying goals?
As your trusted First American Bank loan officer in Chicago, Illinois, my mission is to provide you with exceptional customer service. I will walk you through every step of the home loan process and support you from mortgage prequalification to pre-approval, all the way through your closing date. As a partner with you in the home financing process, I will provide you with a variety of mortgage lending programs to meet your individual needs, whether you are seeking a fixed-rate or adjustable-rate mortgage (ARM). I am committed to keeping you informed throughout the mortgage loan process, and am here to answer questions, explain options and eliminate hassles and worry along the way. Whether you are a first-time home buyer or seasoned buyer, you can trust me and my team with all of your home financing needs.
Don’t hesitate to reach out using the direct contact information located on this page. I appreciate your business and look forward to working with you!
I currently sit on the board of the Small Business Advocacy Council where, as a non-partisan non-profit, we advocate for small businesses in Chicago and throughout Illinois. Our goal is to help make both city and state more small business-friendly. I own a Harley Davidson Road Glide, which I ride as much as I can. I also collect wine. Big, bold California reds are my favorite!
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Special introductory variable rate for 12 months at Prime – 0.50%
6.50% APR
After that, variable rates are as low as
7.00% APR1
Hurry, offer ends December 30, 2022!
Apply now using the link above!
| Product | Rate | APR |
|---|---|---|
Home Equity Line of Credit Terms and Conditions | 7.000% | 7.000% |
1Offer valid 10/1/22-12/30/22. Loan must close by 2/28/23. Available only to new Home Equity Line of Credit (HELOC) customers and current HELOC customers whose loan matures within one year from the date of application. Available only on collateral properties located in (i) Illinois (excluding Kankakee County. Please see a banker for rates applicable to Kankakee County, Illinois), (ii) Indiana, (iii) Wisconsin (iv) Arizona, and (v) Minnesota. Not available for investment properties. 75% loan-to-value (70% for condos), or less. Prime – 0.50% during the twelve-month introductory period. Thereafter, the Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate published in the Money Rates section of The Wall Street Journal on the first business day of each month. Based on the 12/1/22 Prime Rate of 7.00%, the following rates would apply: 6.50% APR during the twelve-month introductory period. Thereafter, 7.00% APR for HELOC $100,000 or more; 7.24% APR for HELOC $50,000 to $99,999; 7.74% APR for HELOC $25,000 to $49,999; and 7.99% APR for HELOC $5,001 to $24,999. Rates subject to change at any time. The maximum APR is 18%. Monthly payments of interest only will result in a balloon payment. No annual fee for the first year - $60 annual fee thereafter. (For applications received on or after 1/3/2023, the annual fee will be $75.) Costs to satisfy certain prior liens may be assessed. Property insurance is required. Flood hazard insurance may be required. Some restrictions may apply. An Early Cancellation Fee of 2.00% of the credit limit, or $500, whichever is less, will apply if the loan is closed within the first 36 months. An Early Cancellation Fee is not applicable in Wisconsin, Minnesota, or when prohibited by state law. Offer is subject to normal credit qualifications.
UP TO $2,500 IN CLOSING COST CREDIT: Third Party Fees and Charges ranging from $500 to $3,100 may be assessed for HELOCs under $250,000 at closing. If at the time of closing you set up an Automatic Funds Transfer (AFT) or Automatic Clearing House (ACH) to make the monthly payment on your HELOC and within the first statement cycle elect electronic statements, we will pay up to $2,500 of the Third Party Fees and Charges associated with closing on your HELOC, including, but not limited to, appraisal, title, flood, credit report, stamp & tax and recording fees (Third Party Fees and Charges). If at any time during the term of your HELOC you fail to maintain the AFT or ACH or an electronic statement, you agree to repay the Third Party Fees and Charges that we previously paid which will be added to the outstanding balance of your HELOC. If at the time of closing you do not set up an AFT or ACH to make the monthly payment on your HELOC, then you agree to pay the Third Party Fees and Charges at closing. Not available for investment properties or loans that fall outside our standard product, rate, term and underwriting guidelines.
Payment: Your Regular Payment will equal the amount of your accrued Finance Charges. Term: The draw period will extend to the first day of the month following execution of the loan documents plus ten (10) years.
Balance Due at End of Loan Term: Closing Fees: $503.00
Annual Fee: $60.00 (For applications received on or after 1/3/2023, the annual fee will be $75.)
| Product | Rate | APR | Points |
|---|---|---|---|
5/6 ARM SOFR Terms and Conditions | 6.750% | 6.808% | 0.000 |
Jumbo 30 Year Fixed Terms and Conditions | 7.500% | 7.516% | 0.000 |
Subject to credit approval. Standard rates apply. Title fees, as part of the closing costs, will vary by county.
Rates are subject to change at any time without notice. Rates and terms are not guaranteed until application is completed and rate is locked by a First American Bank mortgage loan representative. Rates and programs are subject to limitations. Call for program availability. All programs are fully amortized loans that require monthly payments of principal, interest, and any required escrow payments for the term of the loan. The above payments do not include amounts for taxes and insurance premiums. Therefore, the actual payment obligation will be greater. The exact monthly payment of a loan will vary depending on the term of the loan, the amount and the Annual Percentage Rate (APR) at the time of loan approval. APRs will vary due to the cost of PMI (if necessary), title company fees, loan points based on your credit score and actual loan amounts. Available loan amounts range from $30,000 to $2,000,000. Please call for rate information on loan amounts not shown in the table.
Conventional Loan APRs: We assume a 25% down payment with no Private Mortgage Insurance (PMI) and based on payment for the full term.
Jumbo Loan APRs: We assume a 30% down payment with no Private Mortgage Insurance (PMI) and based on payment for the full term.
Adjustable Rate Mortgage (ARM) Loan APRs: Amortized for 30 years. The APRs shown are for the initial period and may increase after closing due to the movements of the interest rate index during the rate adjustment periods. Call for information regarding rate adjustment caps and margins.
At a 6.750% initial interest rate, the APR for this loan type is 6.808%, subject to increase. Based on current market conditions, the monthly payment schedule would be:
- 359 payments of $1,362.06 at an interest rate of 6.750%
- 1 payment of $1,360.57 at an interest rate of 6.750%
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
At a 7.500% interest rate, the APR for this loan type is 7.516%. The monthly payment schedule would be:
- 359 payments of $5,593.72 at an interest rate of 7.500%
- 1 payment of $5,592.26 at an interest rate of 7.500%
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
I was introduced to Larry through my buyer/client. Larry was awesome to work with! He was always available and made the closing process simple and easy for the buyer and he kept me informed the entire time. Kudos to a great job, customer service and professionalism.
Larry was the absolute best!! He really took his time to help me take my first step into my first home. It took a pretty long time to buy my home, but Larry was with me every step of the way, so helpful, patient, and always checking in to make sure everything was going smoothly. I know he made sure I got the best possible outcome and I'm truly grateful for how well he worked with my realtor and I. As my friends and family say, he's invited to the cook out! :)
Larry Minutillo was great to work with. Helpful and available at every turn.
Larry was fabulous from start to finish. Highly recommend. First Am also has convenient locations around the city of Chicago and surrounding areas.
We have used Larry Minutillo for our 1st mortgage and now our HELOC. He is truly the best around. He is very knowledgeable, honest and diligent. He wants the best for his clients and will go to bat for them. Anyone who has gone through the mortgage process knows how painful and stressful it can be… Larry walks by your side through the entire process, start to finish. Highly recommend him!
