Home equity rates

At Old Second Bank, we offer competitive rates on all our home equity loans.


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Home Equity & Auto Rates
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LTV
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APR
Home Equity Line Rates up to 70% 4.00% - 5.00%*
  70.01% - 80% 4.25% - 5.25%*
  80.01% - 90% (720+ FICO) 4.75%*
Home Equity Loan Rates up to 70% 6.00% - 6.25%*
  70.01% - 80% 6.25% - 6.50%*
  70.01% - 90% (720+ FICO) 6.25%*
     

To utilize or learn more about these home equity or auto loan options, or for rates on CD Secured Loans or Unsecured Loans, call or visit a representative today!

*For home equity loans and lines of credit: Applies to owner occupied 1-4 family primary residences. Subject to credit approval. Property, title and flood insurance, if applicable, are required. Consult a tax advisor about tax deductibility. Terms and conditions subject to change without notice. For Home Equity Lines of Credit: Offer open to new account or refinance from another institution. Annual Percentage Rate (APR) is subject to change any may vary. APR is based on the highest prime rate as published in the Wall Street Journal, subject to a floor rate. Line amounts are available from $10,000-$500,000 depending on FICO score and credit qualification. Prime Rate on 6/3/2020 was 3.25%. Margins may be adjusted based on lien position, loan-to-value (LTV) and FICO score. As of 6/3/2020, available APRs for loan amounts >$100,000 ranged from 4.00% (the floor rate) to Prime + 2.00% or 5.25% APR. As of 6/3/2020, available APRs for loan amounts <$100,000 ranged from 4.00% APR (the floor rate) to Prime + 2.00% or 5.25% APR. Maximum APR is 18%. The minimum APR (floor) is 4.00% APR, excluding any Introductory specials. A $50 annual fee is waived the first year. An early cancellation fee is applied to any account closed within 36 months of opening date as follows: $200 for $10,000-$24,999 lines of credit; $500 for $25,000+ lines of credit. A $75 conversion fee will apply for locking a portion of the home equity line. 10 year draw period followed by 20 year repayment period. During the draw period, your monthly minimum payments can be as low as interest only. If you choose to pay only the amount of interest due, then at the end of the interest only draw period you will still owe the original amount you borrowed and your monthly payments will increase during the repayment period because you must pay back the principal as well as the interest. Your payments could increase even more if your variable rate increases.

View our Calculators to calculate your interest.