James Schiro
Mortgage Lender, NMLS #2052958
How can I help you achieve your home-buying goals?
As your trusted First American Bank mortgage loan officer in Bloomingdale, 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 am a lifelong native of Chicagoland with more than 30 years working in the mortgage industry. I graduated from Montini Catholic High School and attended College of DuPage. When I am not helping clients obtain the best home financing, I enjoy spending time with my daughters, catching up on Formula 1 racing and making wine.
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| Product | Rate | APR |
|---|---|---|
Home Equity Line of Credit Terms and Conditions | 6.750% | 6.750% |
Not available for investment properties or properties located in Texas, New York, Alaska, or Hawaii- 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 the month. 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 - $75 annual fee thereafter. Costs to satisfy certain prior liens may be assessed. Property insurance is required. Flood hazard insurance may be required. If you refinance, close or terminate your HELOC for any reason within 36 months of opening your HELOC, you may have to pay an Early Cancellation Fee of (i) two percent (2.00%) of your credit limit within the first twelve (12) months of opening your HELOC, or (ii) $750 between thirteen (13) and thirty-six (36) months of opening your HELOC. This Early Cancellation Fee applies where applicable by state law. Subject to credit approval.
*UP TO $2,000 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 elect electronic statements within the first statement cycle, we will pay up to $2,000 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 (collectively, “Third Party Fees and Charges”). 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. This provision does not apply to loans secured by investment properties or to 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: $662.00
Annual Fee: $75.00
| Product | Rate | APR | Points |
|---|---|---|---|
30 Year Fixed Rate Terms and Conditions | 6.490% | 6.632% | 0.000 |
15 Year Fixed Rate Terms and Conditions | 5.875% | 6.105% | 0.000 |
Jumbo 30 Year Fixed Terms and Conditions | 6.875% | 6.900% | 0.000 |
Federal VA 30 Year Fixed Rate Terms and Conditions | 6.250% | 6.581% | 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. Not available on collateral properties located in Texas, New York, Alaska, and Hawaii. 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 6.490% interest rate, the APR for this loan type is 6.632%. The monthly payment schedule would be:
- 359 payments of $1,325.96 at an interest rate of 6.490%
- 1 payment of $1,326.79 at an interest rate of 6.490%
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 5.875% interest rate, the APR for this loan type is 6.105%. The monthly payment schedule would be:
- 179 payments of $1,757.95 at an interest rate of 5.875%
- 1 payment of $1,757.74 at an interest rate of 5.875%
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 6.875% interest rate, the APR for this loan type is 6.900%. The monthly payment schedule would be:
- 359 payments of $9,853.93 at an interest rate of 6.875%
- 1 payment of $9,854.77 at an interest rate of 6.875%
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 6.250% interest rate, the APR for this loan type is 6.581%. The monthly payment schedule would be:
- 359 payments of $1,090.97 at an interest rate of 6.250%
- 1 payment of $1,091.20 at an interest rate of 6.250%
The actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
Jim was absolutely fantastic to work with and the process was so fast and easy I couldn't believe it. Rates & Fees were better than any other options I found. I Highly recommend Jim and First American Bank for your HELOC needs. Top Shelf all the way!
Jim was great to work with! He was extremely knowledgeable, and provided all the details I needed to complete the HELOC process quickly, and smoothly. No surprises at the last minute! I would definitely recommend him to anyone looking for a loan.
I am very happy with my experience with Jim. He was patient with my many questions and went beyond simply answering....I feel better equipped to make financial decisions in the future. I felt that he was very interested in me making a decision that was best for my family, not his bottom line. Rarely have I found someone in the financial industry in whom I have such trust and confidence. Thanks, Jim!
I can’t express how grateful I am to Jim Schiro for helping me secure my mortgage and making the home-buying process so much easier than I expected. As a first-time homebuyer, I was nervous about the whole process, but Jim took the time to explain everything in detail and made sure I understood each step. He was patient, always available to answer my questions (even on the day of closing when something unexpected came up!) and truly had my best interests in mind. What really stood out to me was how Jim went the extra mile to find the best loan options for my situation and made sure I was comfortable with every decision. Thanks to his expertise and support, I’m now in my very own home, and I couldn’t be happier! I highly recommend Jim if you’re looking for a mortgage loan officer who genuinely cares and knows his stuff!
Great experience with Jim and his team. Always very responsive.
