Mortgage Loans
Financial Solutions for Your Home

 

Whether you are thinking about buying your first home, building your dream home or choosing a second, vacation or investment property, BankFinancial has the mortgage financing solution designed to help you achieve your dream. You'll get a competitive interest rate and low closing costs.

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• Loan Interest Rates
• Mortgage Types
• Affordable Mortgages
• Specialty Financing    
• Mortgage Calculators  
• Mortgage Glossary   

Mortgage Types

Fixed Rate Mortgages: Safe, Secure, Comfortable

Stability in your mortgage payment allows you to rest easy. Knowing that your monthly principal and interest payment won’t ever change during the life of the loan will help you relax. And because we offer a wide variety of term options, you’ll be able to tailor your equity growth to suit your specific financial needs and goals.

We offer fixed-rates in 10, 15, 20 and 30 Year Terms. 

Adjustable Rate Mortgages: Lower Payment NOW!

With lower interest rates for the first few years of your adjustable rate mortgage, you’ll be able to enjoy lower monthly payments for initial period, guaranteed. With 3/1, 5/1 and 7/1 options available, adjustable rate mortgages are perfect for borrowers planning short to medium length stays in their home or those able to benefit from lower payments now while anticipating higher incomes in the future.

Fannie Mae Expanded Approval^TM: For Borrowers with Less Than Perfect Credit

Worried that just because you don’t have perfect credit you won't be able to get a mortgage without turning to a high rate and fee sub prime lender? With Fannie Mae’s new Expanded Approval^TM program, you may be able to finance that new home and save thousands in interest rate payments over the life of your loan.

Affordable Mortgages: Making Home Ownership Affordable

Just because you don’t have a lot of money saved for a down payment doesn’t mean you can’t afford a home of your own. Our Affordable Mortgages can help you realize your dream NOW!

Fannie Mae Community Home Buyer Program

With more lenient underwriting standards than conventional mortgages and a variety of low down payment options, the Community Home Buyer Program may be just what you need to buy that home you’ve been thinking about. And with 97% financing available to qualified borrowers a new home could be closer than you think.

Illinois Housing Development Authority I-Loan Mortgage (MRB) Program

This program offers 30-year fixed rate mortgage products with interest rates approximately ½ percent below market rates. Borrowers must be first-time buyers (except in targeted areas*), with income and purchase price not exceeding specified limits. Underwriting standards are standard conventional “affordable housing” standards as published by the major Private Mortgage Insurance (PMI) companies and FannieMae/Freddie Mac.

*A Targeted Area is a census tract in which 70 percent of the people living there have household incomes below 80 percent of the median. (This evaluation is based upon the data collected from the census conducted in the year 2000).

Federal Home Loan Bank Downpayment Plus^® 2009 Program

Downpayment Plus^®  is a statewide affordable housing initiative administered by the Illinois League of Financial Institutions (ILFI) and funded by the Chicago Federal Home Loan Bank. It offers new hope for aspiring low-income homebuyers, who previously have been unable to afford down payments and closing costs.

As a Downpayment Plus^® participating institution, we are excited about its potential and look forward to expanding the home ownership opportunities of low-income families in our market area. Income-qualified households within Illinois are eligible to receive up to $4,000 in down payment and closing costs assistance to be used in conjunction with the acquisition of owner-occupied one and two-family dwellings.

Specialty Financing

Home Equity Lending

There’s money hiding in your house. Let us help you find it.  Whether you're interested in improving your home, consolidating debt, financing a loved one’s education or taking that dream vacation, you can easily tap the equity in your home to achieve your financial needs and goals.

We offer both fixed-rate equity loans or adjustable-rate lines of credit  to fit every situation. Just apply online, call our Loan-by-Phone at 800-894-6900, or stop by your local branch  to speak with a client representative.