Home Equity Fixed Rate
Term Loan
MB’s Home Equity Fixed Rate Term Loan puts your home's equity to work for debt consolidation, a major purchase, and more.1 footnote
Benefits
Skip Benefits bullets/links- Use your home’s equity to get extra cash
- Your interest rate is fixed so if the prime rate increases, your rate won’t
- Interest may be tax deductible (consult your tax advisor)
Features
Skip Features bullets/links- Fast, personalized service to fit your specific needs
- Amortization options and non-owner occupied options are available
- A 0.50% rate discount applies to lines with automatic payment deductions from a personal MB checking account
What's next?
Things to know
Skip Things to know bullets/links- One time $50 processing fee charged at loan closing
- 5 - 10 year terms available
- Minimum 80% loan to value (LTV) on owner-occupied properties
- Minimum loan amount is $5,000
- First or second lien position only
What's next?
Interest rates
The following rates are effective as of 09/17/2012. Rates are subject to change without notice and may vary depending on credit qualifications.
| Term/loan-to-value | Amount | Interest rate | APR2 footnote | Fees |
|---|---|---|---|---|
| 60 months or less / 80% LTV | $5,000 - $24,999 | 4.125% | 4.28%* | $50.00 processing |
| $25,000 and up | 4.00% | 4.13%** | $50.00 processing | |
| 66 to 120 months / 80% LTV | $5,000 - $24,999 | 5.00% | 5.03%* | $50.00 processing |
| $25,000 and up | 5.00% | 5.03%** | $50.00 processing |
* APR based on a $15,000 loan.
** APR based on a $35,000 loan.
What's next?
Apply in person
Stop by one of our convenient banking centers located throughout Chicagoland and we’ll help you open a new MB home equity loan.
Apply by phone
Give us a call at 1.888.i bank mb (1.888.422.6562) and we’ll walk you through the application process.
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1 For current interest rates and terms see a banker or call 1.888.i bank mb (1.888.422.6562).
You can verify a mortgage company or individual through the Nationwide Mortgage Licensing System (NMLS). Back to top
2 MB Financial Bank offers equity loan products with an Annual Percentage Rate (APR %) that varies between 4.13% and 5.03% for 80% loan to value owner-occupied products depending upon your commitment amount and credit qualifications. Payments shown do not include amounts for taxes and insurance. Actual payment obligation will be greater. No down payment is required. There is a $50.00 processing fee at time of account opening. For properties in trust, additional trustee fees are the responsibility of the borrower. For loan amounts listed above with automatic payment deductions from a personal MB Financial Bank checking account, the APR will differ reflecting the half percent (.50%) discount. Funds will be disbursed after the federally mandated cancellation period. Offer applies to an owner-occupied 1-4 family residence in Illinois, Northwest Indiana or Philadelphia, Pennsylvania and is subject to no less than a second lien position on your property and is subject to underwriting standards. Property insurance required; flood insurance may be required. Rates are dependent on your loan amount, product and credit qualifications. Closing costs paid by MB Financial Bank are limited to appraisal, flood determination, title insurance and recording fees. Costs to satisfy certain prior liens may be assessed. Consult your tax advisor regarding the tax-deductibility of interest. This offer cannot be combined with any other offer and can be withdrawn at any time without notice. Subject to credit approval, which includes verification of application information and receipt of collateral documents. This offer does not apply to purchase money home transactions. Back to top
