Loans

Home Equity Line-of-Credit 


Line-of-Credit Rate | Equity Loan Rate | FAQ's | Apply Now

Abri Home Equity Lines-of-Credit and Loans are available on residences located in Illinois or Idaho. Residences include single-family owner occupied homes, townhouse, condo, duplex and 1-4 family residences.

Home Equity Line-of-Credit

The perfect way to borrow for recurring expenses.

Monthly Payment
  • Principal & Interest
Loan Amounts
  • Up to 90% Loan to Value on owner-occupied properties for qualified borrowers.
  • Minimum $10,000
  • Maximum $200,000 (For higher loan amounts, please contact us.)
Advance Amounts
  • After 1st advance, minimum subsequent advances are $500
Easy Advances
  • Online Banking
  • Checks (25 free checks)
  • By phone using A.R.T. (Audio Response Teller)
  • In person
Closing Costs
  • None, unless funds are to be used for a bridge loan. See FAQs for details.
Approval time
  • Usually within 24 hours pending appraisal & title
Terms
  • 20 year (5 year draw period with 15 year repayment period) 
  • 30 year (10 year draw period with 20 year repayment period)
Payment Options
  • Direct Deposit with Automatic transfer
  • Payroll deduction
  • Online Banking transfer
  • By phone with A.R.T.
  • By mail or in person
Rates & Index/Margin 20 Year Line-of-Credit (5 year draw - 15 year repayment) 

Rates effective as of 5/01/2017

Line-of-Credit Rates* Index/Margin
$10,000 - $24,999.99 5.50% APR Prime + 1.5%
$25,000 - $49,999.99 5.00% APR Prime + 1%
$50,000 - $99,999.99 4.50% APR Prime + .50%
$100,000 and above 4.00% APR Prime

Rates shown above are based on a loan-to-value (LTV) of 80% or less. If the LTV exceeds 80%, add 1% to the current rate.

Rates &
Index/Margin
30 Year Line-of-Credit (10 year draw - 20 year repayment) 

Rates effective as of 5/01/2017

Line-of-Credit Rates* Index/Margin
$10,000 - $24,999.99 6.00% APR Prime + 2.0%
$25,000 - $49,999.99 5.50% APR Prime + 1.5%
$50,000 - $99,999.99 5.00% APR Prime + 1.0%
$100,000 and above 4.50% APR Prime + .50%

Rates shown above are based on a loan-to-value (LTV) of 80% or less. If the LTV exceeds 80%, add 1% to the current rate.
Prime Rate according to the Wall Street Journal as of 3/16/2017 was 4.00%

Annual Fee
  • $50 - waived for the first year
Early Closure Fee
  • A fee up to $350 will be assessed if you pay off and close your Home Equity Line-of-Credit within the first 36 months.


Please email us or call 815-267-7700 to see if your employer offers payroll deduction.
* Maximum APR is 18%. Floor rate is 3.9%

Apply
 

For more information, e-mail info@abricu.com or call our Real Estate Department
at (815) 267-7716.