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The prospect of home ownership is the basis for every American dream. At Midland Federal Savings and Loan, we are dedicated to helping you realize your dream.
Midland Federal has programs designed to meet the needs of the “first-time” homebuyer, as well as those of you who are currently in a home but are looking to either move on to “bigger”, downsize to “smaller”, or perhaps refinance the mortgage you already have.
At Midland Federal, we have built our reputation on making mortgages and making them simple. Our professional mortgage experts can help you unravel the red tape and cut through the paperwork by offering you the type of mortgage that fits your lifestyle.Midland Federal offers a wide range of home loan products, including:
- Fixed Rate Mortgages
- Adjustable Rate Mortgages
- First-Time Buyers Programs
- FHA & VA Mortgages
- Home Refinance Loans
- Home Equity Loans
- Home Equity Lines of Credit
- Home Improvement Loans
- Construction Loans
- Jumbo Loans
- Multi-Family/Mixed Use Mortgage Loans
In addition to home loans, Midland Federal offers other lending options:
- Auto Loans
- Student Loans
The prospect of home ownership is the basis for every American dream. At Midland Federal Savings and Loan, we are dedicated to helping you realize your dream.
At Midland Federal, we have built our reputation on making mortgages and making them simple. Our professional mortgage experts can help you unravel the red tape and cut through the paperwork by offering you the type of mortgage that fits your lifestyle.
We offer Fixed Rate Mortgages in 15 and 30 year terms, as well as 1, 3, and 5 year Adjustable Rate Mortgages.
Up to $300,700, owner-occupiedRates, points and programs are subject to change without notice and cannot be guaranteed until an application has been made and fees have been received. Rates quoted are 60 days on fixed loans and 90 days on adjustable rate loans. Rates and APR’s are based on amounts of $150,000. Rates and points are based on loans which do not exceed 80% of the property’s sales price or appraised value, whichever is less.
When interest rates go down, it might be the right time to refinance your existing mortgage loan for possible savings on monthly payments or interest. Call our Loan Originators to see if refinancing is the best option for you.
First Time Home Buyers Loan Program
Owning a home may be easier than you think. Midland Federal has a loan product designed especially for those purchasing a home for the first time. If you are a first-time homebuyer, or haven’t owned a home for the past 3 years, you may be eligible for an Illinois Housing Development Authority (IHDA) loan. The IHDA loan carries a fixed rate of interest lower than traditional fixed rate mortgages and offer a low, low down payment and affordable payments.
If you are looking to consolidate your debts, buy a new car, pay for college tuition or make some home improvements, Midland Federal can show you the way to make it all happen.
As a homeowner, you are aware that your home is probably your biggest investment. Take advantage of this investment by allowing the equity in your home to work for you. The interest portion of your payments may be tax deductible. (Consult your tax advisor concerning deductibility of interest.)
Fixed Rate Home Equity Loan
With a Midland Federal Home Equity Loan, you receive the amount you need to borrow in one lump sum. The interest rate and your monthly payment are fixed. Repayment terms range from 3 to 15 years.Apply for a Fixed Rate Home Equity Loan now.
Home Equity Line of Credit
Once your Equity Line is approved, you simply write a check to access your funds. The interest rate is variable and based upon the amount you borrow. During the first five years, your required monthly payment is the interest of the portion of the line you have used. At the end of the five year term, a single payment of principal and interest will be due.In many cases, it is better to improve than move. If you are looking to make some major home improvements to your existing home, build a new garage, replace the roof or windows, a Midland Federal home improvement loan gives fixed payments with terms from 3 years to 15 years.
Current RatesMidland Federal makes new and used car loans at very competitive rates. Drive away in the car of your dreams. Call our insurance division for a quote on auto insurance as well. There are no roadblocks at Midland – just clear driving ahead.
Current Rates
Need help paying for your children’s college education? Going back to school yourself? Midland Federal can help you obtain the necessary financing to make your schooling dream a reality.
Call for information regarding these other lending options:
- Construction Loans
- Jumbo Loans
- Multi-Family Loans
