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Current Rates
Rates are subject to change at any time. In some cases, rates are based on the most recent Prime rate as published in the Wall Street Journal. Please call 219-322-5005 to verify the current rates. Thank you.
Mortgage Loans
| Home Equity Lines
Home Equity Loans
|
Lot Loans
Home Improvement Loans |
Vehicle Loans
Mortgage Loans
Fixed Rate Loans+
| Term & Type | Rate | Points | APR* |
| 30 Year Fixed | 4.875% | 0.50 | 5.003% |
| 30 Year Fixed | 5.125% | 0 | 5.209% |
| 20 Year Fixed | 4.625% | 0.50 | 4.797% |
| 20 Year Fixed | 4.875% | 0 | 4.988% |
| 15 Year Fixed | 4.375% | 0.50 | 4.593% |
| 15 Year Fixed | 4.625% | 0 | 4.768% |
| 10 Year Fixed | 4.375% | 0 | 4.579% |
Adjustable Rate Loans+
| Term & Type | Rate | APR* |
| 1/1 ARM | 3.875% a | 3.939% |
| 3/1 ARM | 4.125% a | 4.190% |
| 5/1 ARM | 4.250% a | 4.315% |
| 7/1 ARM | 4.500% a | 4.566% |
Balloon Loans+
| Term & Type | Rate | APR* |
| 3 Year Balloon | 6.250% b | 6.624% |
| 5 Year Balloon | 6.500% b | 6.743% |
| 7 Year Balloon | 6.750% b | 6.938% |
 | Ask about our special first-time home buyer program |
| Application deposit of $375 is non-refundable but credited at closing |
| Minimum loan amount of $20,000 |
| Mortgages less than $50,000 available at 0.375% above stated rates |
| Jumbo loans (over $417,000) available at negotiated rates and fees |
| Loans on non-owner occupied property are normally limited to 75% of the lesser of the appraised value or purchase price |
| All commitments will be binding for 30 days after the date of commitment. Extended commitments are available. Ask for specific information. |
+ Rates shown are for owner-occupied, single-family residential properties. 80% Loan to Value (LTV) financing is available based on the appraised value or purchase price plus improvements, whichever is less. For non-owner-occupied property, add 1.0% to the stated interest rate. Private Mortgage Insurance may be required for borrowers with less than a 20% down payment. Call for additional options for higher LTV loans.
* Example Annual Percentage Rates (APRs) are based on a typical loan of $100,000 assuming standard loan fees. A $100,000 mortgage with a 30-year fixed rate at 4.875% would have 360 monthly principal/interest payments of $529.21. To receive above stated rates, credit score must be 680 and above.
a Maximum increase or
decrease of 2% per adjustment period. Rate at each renewal indexed to 1 year
Treasury Index plus
2.75%. The Floor rate will be 0.500% below the start
rate.
b Balloon mortgages amortize over a 30 year term.
Home Equity Lines of Credit
Revolving Credit
|
Loan to Value |
Rate* |
| 80% or less | Primea + 0.50% |
| 15 year term | ||||
| $5,000 minimum and $100,000 maximum line amounts | ||||
| Security required: 1st or 2nd lien on your personal residence | ||||
| You can access your line through special Equity Reserve checks or a Debit card | ||||
| Monthly statements | ||||
| Monthly payments can be made one of two ways:
| ||||
| Opening Costs: None, but property and/or flood insurance may still be required | ||||
| 3-year pre-payment penalty of loan set-up fees, which are approximately $350 | ||||
| Annual fee of $45 | ||||
| Floor rate of 5.00% and Ceiling rate of 18.00% |
* Rate is variable, adjusted monthly.
a Prime Rate based on rate as published in the Wall
Street Journal.
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Second Mortgages - Home Equity Loans
Fixed Rate Loan
|
Term |
APR* |
| 10 years | 6.000% |
| 7 years | 5.750% |
| 5 years | 5.500% |
| Fixed principle and interest payments |
| Security required: 1st or 2nd lien on your personal residence |
| Loan to value (LTV) ratios up to 80% |
| LTV ratios up to 90% will be accepted for American Savings, FSB mortgage customers |
| $5000 minimum |
| No fees to open! |
| No annual fees, but property and/or flood insurance may still be required |
| 3-year pre-payment penalty of loan set-up fees, which are approximately $350 |
* Example APRs are based on a typical loan of $50,000, assuming standard loan fees. With a 10-year rate at 6.000%, this loan would have 120 monthly principal/interest payments of $555.11.
Lot Loans
No Fee Rate Locks on
Construction Loans!
The current rate you secure for your construction loan
transfers to your permanent loan.
| Loan to Value | Rate* |
| 80% or less | Primea + 1.00% |
| 80% - 90% | Primea + 1.50% |
| 5 year maximum term |
| Minimum loan amount of $25,000 |
| Application fee of $175 |
| Loan fee: $500 |
| 3rd party fees to be paid by borrower |
a Prime Rate based on rate as
published in the Wall Street Journal.
OR, as an
alternative:
Amortize the loan over 10 or 15 years at a fixed rate:
| Loan to Value | Rate |
| 80% or less | Stated Fixed Rate + 1.00% |
| 80% - 90% | Stated Fixed Rate + 1.50% |
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Home Improvement Loans
Contact an American Savings lender for a rate quote.
| 10 year maximum term |
| $15,000 maximum loan amount |
| Application fee of $100 |
| All home improvement loans are secured by a recorded second mortgage. A verbal title search will be obtained on loans of $2,500 or more and the results of that search will be noted in the loan file. Loans in excess of $7,500 will require a written title search; cost of same to be charged to the borrower. |
Vehicle Loans
Here are some example rates. Contact an American Savings lender for a specific rate quote on anything beyond these parameters.
| Year | Term | Rate* |
| NEW | 36 mo. | 5.50% |
| 2008 - 2007 | 48 mo. | 6.00% |
| 2008 - 2007 | 60 mo. | 6.25% |
| 2008 - 2007 | 72 mo. | 7.00% |
| 2006 | 60 mo. | 6.25% |
| 2005 | 60 mo. | 6.50% |
| $29 origination fee on purchases; $100 origination fee on refinances |
| Minimum loan amount of $2000 |
| The age of the car (in model years) plus the term of the loan shall not exceed 7 years |
| The value of the vehicle is based on the lower value between the sale price and the Red Book value. |
| Loans on vintage or collectible automobiles are available at negotiated terms. |
* A 2008 model year vehicle valued at $25,000 financed over 5 years would earn a rate of 6.25% and result in 60 monthly principal/interest payments of $486.23.
Rates also available for other vehicles such as:
| Motorcycles |
| Wave Runners |
| Snowmobiles |
| Motor Homes |
| Campers / Travel Trailers |
| Boats and Boat Trailers |
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