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(708) 649-6400
1001 Mannheim Road, Bellwood, Illinois 60104
9850 W 159th Street, Orland Park, Illinois 60467




Fixed-Rate
Loans
  • No closing costs or up-front fees
  • Enjoy steady, predictable payments
  • Get your money up-front in one lump sum
  • Choose from 5- or 7-year terms
  • Borrow up to 80% of your home’s equity
Variable-Rate
Lines Of Credit

  • No closing costs or up-front fees
  • Have a ready source of cash when you need it
  • Write checks against your line for up to 5 years
  • Take up to 15 years to repay your loan
  • Borrow up to 80% of your home’s equity
Interest-Only
Lines Of Credit

  • No closing costs or up-front fees
  • Have a ready source of cash when you need it
  • Write checks against your line for up to 10 years
  • Pay interest only during draw per-iod & take 10 more years to repay
  • Borrow up to 80% of your home’s equity


Put your home to work for you.

If you ever need cash, your home's equity may be where to find it. Borrow against the equity in your home for debt consolidation, home improvements or just about anything else.

Borrowing with a home equity loan is one of the most cost-effective ways to borrow because unlike the interest on other loans, the interest on most home equity loans is 100% tax deductible. Consult your tax advisor for details.

In addition to potential tax savings, consolidating your debt under a low-rate home equity loan could reduce the total amount of interest you pay and possibly lower your monthly payments. Look how much you could save.


High Interest
Credit Cards/Loans
CCUI Fixed-Rate
Home Equity Loan
Amount $25,000 $25,000
Rate 19.99% 5.99%
Term 5 Years 5 Years
Montly Payment $662.22 $483.19
Total Interest $14,732.86 $3,991.18
Potential Tax Savings 0 $1,117.53
Total Interest Savings With Home Equity Loan --------- $10,741.68
Total Interest & Potential Tax Savings With Home Equity Loan --------- $11,859.21
* Assumes a 28% tax bracket.
As you can see, a lower loan rate could help reduce your total monthly payments and interest expense. Use our loan calculator to calculate your monthly payment and total interest expense with one of our loan rates.

And while a home equity loan can help reduce your interest expense, monthly payments and tax bill, if you're using a home equity loan to pay off your higher-interest credit card debt it is important that you be disciplined enough not to incur new credit card debt. Limit the use of your cards and pay off balances in full each month. Otherwise, you won't decrease your overall debt.


Questions?

Call our Home Equity Department at (708) 649-6427 or e-mail us. Please be sure to include your daytime phone number.

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