September 8, 2008

Installment Loan Rates

Home Equity Loan Rates - Variable 

 

Loan to Value %

Customer Rate

 Minimum Amount

 Maximum Amount
 85% or less  Prime
 $10,000.00  $99,999.99
 85% or less  Prime – ½  $100,000.00  $199,999.99
 85% or less  Prime – 1  $200,000.00   ----
 

  • $50.00 annual fee on all Home Equity Lines of Credit.
  • Rate assumes automatic payment from a Village Bank & Trust checking or savings account. Add .25% to the listed rate without an auto debit from a checking or savings account.
  • MINIMUM & MAXIMUM reflects range for line amounts for HELOC Products tiered according to Loan to Value Advance Rate.
  • Maximum rate imposed will not exceed 18%.
  • Terms up to ten years.

Home Equity Loan Rates – Fixed

Village Bank & Trust’s rate is the Prime rate of interest, as printed in the Wall Street Journal on the day the application is received.  The term of the line is 5 years.  The rate assumes automatic payment from a Village Bank & Trust Checking Account or Savings Account.  Maximum loan to value 85%.  Property Insurance is required.  Check with your tax advisor about deductibility of interest.


Other Loans (Construction, Overdraft Protection, Auto, Debt Consolidation) are available.  Please contact Jane Drezen at (847) 385-7034 for more details.