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 – 1.00%
2.50% APR
After that, variable rates are as low as
3.50% APR1
Offer ends May 31, 2022. Apply now using the link above!
When you sign up for automatic payments and eStatements. Offer ends June 30, 2022; apply now using the link above!
| Product | Rate | APR |
|---|---|---|
Home Equity Line of Credit Terms and Conditions | 3.500% | 3.500% |
1Offer valid 2/15/22-5/31/22. Loan must close by 7/31/22. 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) Porter and Lake counties in Indiana, and (iii) Kenosha, Walworth, Milwaukee, and Racine counties in Wisconsin. Not available for investment properties. At the time of closing you must 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 you must elect electronic statements. 80% loan-to-value (75% for condos), or less. Prime – 1.00% 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 4/1/22 Prime Rate of 3.50%, the following rates would apply: 2.50% during the twelve-month introductory period. Thereafter, 3.50% APR for HELOC $100,000 or more; 3.74% APR for HELOC $50,000 to $99,999; 4.24% APR for HELOC $25,000 to $49,999; and 4.49% APR for HELOC $5,001 to $24,999. Rates subject to change at any time. The minimum APR is 2.50% during the introductory period, and 3.25% thereafter. 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. 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, or when prohibited by state law. Offer is subject to normal credit qualifications.
NO CLOSING COST OPTION: hird Party Fees and Charges ranging from $350 to $1,000 may be assessed 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 the Third Party Fees and Charges associated with closing on your HELOC, including, but not limited to, appraisal, title, flood, credit report 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
| Product | Rate | APR | Points |
|---|---|---|---|
30 Year Fixed Rate Terms and Conditions | 5.500% | 5.551% | 0.000 |
15 Year Fixed Rate Terms and Conditions | 4.625% | 4.709% | 0.000 |
Subject to credit approval. Standard rates apply. Title fees, as part of the closing costs, will vary by county. 2Special Offer: $750 off your closing costs valid on first mortgage applications and prequalifications received between 3/1/22-6/30/22. Loan must close by 9/30/22. Only available on 1-4 family home. Only applies to fixed rate Conventional, Jumbo, FHA, USDA, or VA loans. Not available for collateral properties located in Texas, Alaska, or Hawaii. Prior to closing you must set up an Automatic Funds Transfer (AFT) or Automatic Clearing House (ACH) to make the monthly payment on your loan, and within the first statement cycle you must elect electronic statements (requirement only applies to Conventional and Jumbo loans). Closing costs include only those fees and charges required by First American Bank as a condition of obtaining a loan. Title fees, as part of the closing costs, will vary by county. May not be combined with other promotions. Please see a banker for details.
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 5.500% interest rate, the APR for this loan type is 5.551%. The monthly payment schedule would be:
- 359 payments of $1,192.34 at an interest rate of 5.500%
- 1 payment of $1,193.70 at an interest rate of 5.500%
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.
At a 4.625% interest rate, the APR for this loan type is 4.709%. The monthly payment schedule would be:
- 179 payments of $1,619.93 at an interest rate of 4.625%
- 1 payment of $1,620.67 at an interest rate of 4.625%
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.
Just completed a residential real estate transaction with Larry and the process was very smooth and extremely professional throughout. Highly recommend Larry and his team.
A realtor friend of mine referred me to Lawrence J. Minutillo for a client who needed a mortgage on a somewhat complicated transaction. I had not worked with Larry before, but I can tell you he will be my first call for future loans for a client or me. Larry worked through each step of the closing in a timely manner, always reporting back to me so I knew exactly what was going on and what was needed, and he also kept my client up to date. The client was also very impressed with Larry as well.
I worked with Lawrence on a loan application. He provided excellent customer service by paying attention to details and expertly guiding me through the process. He was always quick to respond to my messages and offered recommendations when needed. I would definitely recommend his services.
Larry is the best Mortgage Loan Officer I have ever dealt with. Of the many properties my wife and I have purchased, over 50 years of marriage, Larry made this last property purchase the best. He is hard working, fair, thorough, reaching in depth to make sure your needs are satisfied. I just wish there were more stars we could give him! Deborah and George Woods, MD
Larry is the BEST Loan Officer EVER! My husband and I needed to open a HELOC and Larry helped guide us through the entire process. His knowledge, professionalism, and most importantly trustworthiness is top-notch. When we had questions, he called back promptly even past office hours. To top it off, we were most impressed with the timeline from application to funding of less than one month. That indeed is GREAT customer service. I can’t say it enough you’re the BEST…thank you for everything.
Larry was awesome from beginning to the end of the process. I would definitely recommend him.
