Real Estate: Real Estate Loans | State Bank of the Lakes

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July 30, 2010

Real Estate Lending

State Bank of The Lakes services Northeastern McHenry County and Northern Lake County, Illinois and Southern Kenosha and Walworth Counties in Wisconsin.

All of our mortgages are serviced locally out of our Real Estate Office at 2031 East Grand Avenue, Lindenhurst, IL.

Please remember that our Personal Bankers are available to assist you from 8:30 a.m. until 5 p.m. Monday thru Thursday, 8:30 a.m. to 6 p.m. on Friday and 8:30 a.m. to 1 p.m. on Saturday.

Single Family Owner-Occupied Rates

FIXED MORTGAGE RATES

Last Updated: 7/29/10

TERM	RATE	*APR PURCHASE**	*APR REFINANCE**	POINTS
10 Year	3.875%	4.16%	4.15%	None
15 Year	4.000%	4.20%	4.19%	None
20 Year	4.500%	4.66%	4.65%	None
30 Year	4.625%	4.74%	4.74%	None

* Annual Percentage Rate (APR)

Maximum conforming mortgage amount is $417,000. The above APR for a purchase transaction assumes typical closing costs of approximately $2,528 for the purchase of a single family, owner-occupied residence with a 20% down-payment and a loan amount of $100,000. The above APR for a refinance transaction assumes typical closing costs of approximately $1,517.00 on a single family, owner-occupied residence with a 70% or less loan-to-value. Rates are subject to qualification based on credit and loan to value.

Rates and terms are subject to change without notice

Click here to calculate your monthly mortgage payment.

Mortgage Information

State Bank of The Lakes realizes the value of your banking relationship and your greatest resource, TIME. We are proud to be one of the oldest community banks in the area, and we continue to bring our customers current technology and old-fashioned customer service.

Here at State Bank of The Lakes we know that purchasing a home is one of life's biggest financial commitments. We have the expertise and the products to help you with your home financing needs. Whether you're purchasing a new home, refinancing your existing home, building a new home, or purchasing a lot on which to build your dream home, our Real Estate Lending professionals will help you find the loan that fits your needs.

Providing us with the following information will allow us to approve your mortgage by the next business day (subject only to satisfactory verification):

Current paycheck stub with year-to-date information (two years personal and business federal tax returns if you are self-employed)
Current bank or retirement statement documenting funds for down-payment and closing fees
Contract to purchase home (or current mortgage statement if refinancing)

Our underwriters are on-site and we service all of our mortgage loans. That means that the same friendly people service your loan until it's paid off. If you have a question about your account, you can stop in or call us - we'll be happy to help you. If you need information after hours, you can call our TeleBank 24/7 or access your account through our personal on-line banking service.

We want you to utilize our full banking services and have created a relationship account, Charter Checking™, which rewards your mortage business with an interest bearing, no service charge, no minimum balance requirement checking account. A No Fee Home Equity Line of Credit can also be set up with your new mortage based on qualifications.

We do all this to prove... WE WANT YOUR BUSINESS!

AVAILABLE PROGRAMS

Fixed Rate Terms up to 30 Years

1, 3 and 5 Year Adjustble Rate Mortgages (ARMS)

Balloon Terms up to 5 Years

Jumbo Mortgages

Construction Loans

Vacant Land

Bridge Loans

1 to 4 Unit Investment Properties

First-Time Home Buyer Programs

Home Equity Loans