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Chicago Low Mortgage Rates

Not sure which mortgage is best for you? At First American Bank, you can always talk to a live person by calling (847) 586-2740 during the business hours of 8:00 a.m. to 6:00 p.m. Central Time Monday through Friday (excluding federal holidays) or Saturday 8:00 a.m. to 1:00 p.m. Central Time. You can also stop by one of our 50 locations to speak with a personal banker.

Your First American Bank mortgage will be managed locally in the Chicagoland area over the term of your loan whether it's 5 or 30 years. Our size and management philosophy make it possible for us to give you the personal attention only a community bank can provide - from writing up the application through the term of your loan.

The following Chicago mortgage rates are real time refreshed and published multiple times per day.

Rates Effective: 6/4/2018. Rates and points are subject to change without notice.
 
Term
Amount
Rate
(%)
Annual
Percentage
Rate(%)
Points
(%)
Orig
(%)
Payment
(per $1,000)
Closing
Costs*

FIXED CONVENTIONAL

Loan-to-Value <75%

15 YEAR

$30,000 - $453,100

3.750
3.875
4.000

4.086
4.025
4.134

1.375
0.125
0.000

0.000
0.000
0.000

$7.27
$7.33
$7.40

$1,252
plus title

FIXED CONVENTIONAL

Loan-to-Value <75%

20 YEAR

$30,000 - $453,100

4.125
4.250
4.375

4.379
4.372
4.484

1.250
0.125
0.000

0.000
0.000
0.000

$6.13
$6.19
$6.26

$1,252
plus title

FIXED CONVENTIONAL

Loan-to-Value <75%

25 YEAR

$30,000 - $453,100

4.250
4.375
4.500

4.514
4.528
4.593

1.750
0.625
0.000

0.000
0.000
0.000

$5.42
$5.49
$5.56

$1,252
plus title

FIXED CONVENTIONAL

Loan-to-Value <75%

30 YEAR

$30,000 - $453,100

4.250
4.375
4.500

4.479
4.508
4.581

1.750
0.625
0.000

0.000
0.000
0.000

$4.92
$4.99
$5.07

$1,252
plus title

FIXED FHA

Loan-to-Value <96.5%

30 YEAR

$30,000 - $365,700

4.375

5.177

0.000

0.000

$4.99

$1,262
plus title

FIXED JUMBO

Loan-to-Value <70%
up to $1M

15 YEAR

$453,101 - $1,500,000

4.375
4.500

4.456
4.544

0.250
0.000

0.000
0.000

$7.59
$7.65

$1,252
plus title

FIXED JUMBO

Loan-to-Value <70%
up to $1M

30 YEAR

$453,101 - $1,500,000

4.375
4.500

4.421
4.525

0.250
0.000

0.000
0.000

$4.99
$5.07

$1,252
plus title

FIXED Kankakee 15 year special

Loan-to-Value <75%

15 YEAR

$30,000 - $453,100

3.875

4.007

0.000

0.000

$7.33

$1,252
plus title

FIXED Kankakee 30 year special

Loan-to-Value <80%

30 YEAR

$30,000 - $453,100

4.375

4.454

0.000

0.000

$4.99

$1,294
plus title

ARM CONVENTIONAL

Loan-to-Value <75%

3/1 YEAR

$30,000 - $453,100

4.375
4.625

4.965
5.015

0.125
0.000

0.000
0.000

$4.99
$5.14

$1,252
plus title

ARM CONVENTIONAL

Loan-to-Value <75%

5/1 YEAR

$30,000 - $453,100

4.000
4.125

4.743
4.778

0.125
0.000

0.000
0.000

$4.77
$4.85

$1,252
plus title

ARM CONVENTIONAL

Loan-to-Value <75%

7/1 YEAR

$30,000 - $453,100

4.125
4.250

4.699
4.738

0.250
0.000

0.000
0.000

$4.85
$4.92

$1,252
plus title

ARM JUMBO PORTFOLIO

Loan-to-Value <70%

3/1 YEAR

$453,101 - $1,000,000

3.875

4.865

0.000

0.000

$4.70

$1,252
plus title

ARM JUMBO PORTFOLIO

Loan-to-Value <70%

5/1 YEAR

$453,101 - $1,000,000

3.875

4.581

0.000

0.000

$4.70

$1,252
plus title

ARM JUMBO PORTFOLIO

Loan-to-Value <70%

7/1 YEAR

$453,101 - $1,000,000

4.125

4.587

0.000

0.000

$4.85

$1,252
plus title

 

Additional Information

Rates are subject to change at any time without notice. Quoted rates can be locked for 35 days and are based on the purchase/refinance of a single family home to be used as a primary residence. 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 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. Available loan amounts range from $30,000 to $650,000. Please call for rate information on loan amounts not shown in the table.

*Title fees, as part of the closing costs, will vary by county.

1 Conventional loan APRs shown are based on a loan amount of $175,000. We assume a 20% down payment with no Private Mortgage Insurance (PMI) and based on payment for the full term. APRs will vary due to the cost of PMI, if necessary, and actual loan amounts.

2 FHA loan APRs shown are based on a loan amount of $175,000 amortized 30 years in each tier and assume a minimum down payment of 3.50%. APRs will vary due to the cost of Monthly Mortgage Insurance and Upfront Mortgage Insurance.

3 The APRs shown on adjustable rate mortgage (ARM) loans are based on a loan amount of $175,000 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.

4 VA loan APRs shown are based on a loan amount of $175,000 amortized for 30 years and assume a minimum down payment of 0%.

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