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NAVIGATING THE MORTGAGE PROCESS WITH CONFIDENCE

5 ESSENTIAL QUESTIONS TO ASK YOUR LENDER

Securing a Mortgage may seem like an intimidating task, but it is a significant & necessary step in your journey to homeownership. Finding the right Mortgage lender is crucial whether you're a first-time buyer, buying a new home, or looking to refinance. Choosing a lender who understands your concerns and challenges, and that is there to guide you through the process, is a significant advantage. Here's what you need to ask before selecting your Mortgage Lender to be sure you make an informed decision.

 

1. QUESTION: WHAT TYPES OF MORTGAGES DO YOU OFFER?

At Lisle Savings Bank, we offer a range of Mortgage options tailored to your unique circumstances. There is no one-size-fits-all Mortgage solution, so finding a lender who listens to you and explains the risks and benefits of each Mortgage type is essential! Here are some types of Mortgages offered at Lisle Savings Bank:

 

2. QUESTION: WHAT ARE THE CURRENT INTEREST RATES & APRs?

Understanding current interest rates and annual percentage rates (APR) your lender is offering is crucial to the Mortgage process, as they substantially impact your financial decisions and how much you pay for your home long-term. Interest rates are the price you pay for borrowing money from a lender, affecting both your monthly payments and the total cost of the loan. Knowing the prevailing rates and how they might change over time enables you to make informed financial choices. The APR, on the other hand, offers a more comprehensive view of your loan's overall cost, encompassing the interest rate and any associated fees. This insight is invaluable for evaluating loan options effectively and making financially sound decisions.

 

3. QUESTION: WHAT WILL MY MONTHLY PAYMENTS BE?

Get an official Loan Estimate before choosing a loan. The Loan Estimate is a comprehensive breakdown that outlines the principal and interest components and includes taxes, insurance, and any other fees or closing costs. This detailed overview of your financial obligations empowers you to select a lender that aligns with your financial goals, ensuring the best management of your resources. Be sure to get an official Loan Estimate for an accurate "big picture."

 

4. QUESTION: WHAT SHOULD I EXPECT THROUGHOUT THE PROCESS?

Mortgage applications require documentation. Be sure to ask your lender upfront what you must have prepared to avoid undue stress near and at closing due to a lack of preparation. The approval process's duration can significantly impact your plans, so asking for a realistic timeline is essential to ensure a smooth journey.

 

5. QUESTION: DO YOU ACTUALLY SERVICE THE LOANS YOU ORIGINATE?

Yes! Lisle Savings Bank is dedicated to supporting you throughout the life of your loan, so you don’t have to worry about changing the name on your Mortgage check or processing your payment on a different website. It’s one of the things that makes getting a Mortgage at Lisle Savings Bank special!

 

DON'T STOP HERE!  

These questions are a great start, but you know yourself and your needs better than anyone else! Think about any other questions you may have so that you can get the answers you need. At Lisle Savings Bank, you’re not just another number. We’re here to help you achieve your homeownership dreams. With our expertise, local knowledge and decision making, and commitment to transparency, you can navigate the Mortgage process with confidence.

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Title Token Key Token Value
Loan to Value Ratio - 81-90% - 10 Year Rate {{LTV_8190_10year_rate}} 5.750
Loan to Value Ratio - 81-90% - 10 Year APR {{LTV_8190_10year_apr}} 5.949
Loan to Value Ratio - 81-90% - 10 Year Payment Example {{LTV_8190_10year_pmt}} 1,811.19
Loan to Value Ratio - 81-90% - 10 Year Points {{LTV_8190_10year_points}} 0
Loan to Value Ratio - 81-90% - 15 Year Rate {{LTV_8190_15year_rate}} 5.875
Loan to Value Ratio - 81-90% - 15 Year APR {{LTV_8190_15year_apr}} 6.017
Loan to Value Ratio - 81-90% - 15 Year Points {{LTV_8190_15year_points}} 0
Loan to Value Ratio - 81-90% - 15 Year Payment Example {{LTV_8190_15year_pmt}} 1,381.25
Loan to Value Ratio - 81-90% - 20 Year Rate {{LTV_8190_20year_rate}} 6.375
Loan to Value Ratio - 81-90% - 20 Year APR {{LTV_8190_20year_apr}} 6.495
Loan to Value Ratio - 81-90% - 20 Year Points {{LTV_8190_20year_points}} 0
Loan to Value Ratio - 81-90% - 20 Year Payment Example {{LTV_8190_20year_pmt}} 1,218.08
Loan to Value Ratio - 81-90% - 25 Year Rate {{LTV_8190_25year_rate}} 6.500
Loan to Value Ratio - 81-90% - 25 Year APR {{LTV_8190_25year_apr}} 6.604
Loan to Value Ratio - 81-90% - 25 Year Points {{LTV_8190_25year_points}} 0
Loan to Value Ratio - 81-90% - 25 Year Payment Example {{LTV_8190_25year_pmt}} 1,114.09
Loan to Value Ratio - 81-90% - 30 Year Rate {{LTV_8190_30year_rate}} 6.625
Loan to Value Ratio - 81-90% - 30 Year APR {{LTV_8190_30year_apr}} 6.720
Loan to Value Ratio - 81-90% - 30 Year Points {{LTV_8190_30year_points}} 0
Loan to Value Ratio - 81-90% - 30 Year Payment Example {{LTV_8190_30year_pmt}} 1,056.51
Loan to Value Ratio - 71-80% - 10 Year Rate {{LTV_7180_10year_rate}} 5.625
Loan to Value Ratio - 71-80% - 10 Year APR {{LTV_7180_10year_apr}} 5.909
Loan to Value Ratio - 71-80% - 10 Year Points {{LTV_7180_10year_points}} 0
Loan to Value Ratio - 71-80% - 10 Year Payment Example {{LTV_7180_10year_pmt}} 1,800.92
Loan to Value Ratio - 71-80% - 15 Year Rate {{LTV_7180_15year_rate}} 5.750
Loan to Value Ratio - 71-80% - 15 Year APR {{LTV_7180_15year_apr}} 5.952
Loan to Value Ratio - 71-80% - 15 Year Points {{LTV_7180_15year_points}} 0
Loan to Value Ratio - 71-80% - 15 Year Payment Example {{LTV_7180_15year_pmt}} 1,370.18
Loan to Value Ratio - 71-80% - 20 Year Rate {{LTV_7180_20year_rate}} 6.250
Loan to Value Ratio - 71-80% - 20 Year APR {{LTV_7180_20year_apr}} 6.419
Loan to Value Ratio - 71-80% - 20 Year Points {{LTV_7180_20year_points}} 0
Loan to Value Ratio - 71-80% - 20 Year Payment Example {{LTV_7180_20year_pmt}} 1,206.03
Loan to Value Ratio - 71-80% - 25 Year Rate {{LTV_7180_25year_rate}} 6.375
Loan to Value Ratio - 71-80% - 25 Year APR {{LTV_7180_25year_apr}} 6.521
Loan to Value Ratio - 71-80% - 25 Year Points {{LTV_7180_25year_points}} 0
Loan to Value Ratio - 71-80% - 25 Year Payment Example {{LTV_7180_25year_pmt}} 1,101.24
Loan to Value Ratio - 71-80% - 30 Year Rate {{LTV_7180_30year_rate}} 6.500
Loan to Value Ratio - 71-80% - 30 Year APR {{LTV_7180_30year_apr}} 6.632
Loan to Value Ratio - 71-80% - 30 Year Points {{LTV_7180_30year_points}} 0
Loan to Value Ratio - 71-80% - 30 Year Payment Example {{LTV_7180_30year_pmt}} 1,042.91
Loan to Value Ratio - 61-70% - 10 Year Rate {{LTV_6170_10year_rate}} 5.500
Loan to Value Ratio - 61-70% - 10 Year APR {{LTV_6170_10year_apr}} 5.781
Loan to Value Ratio - 61-70% - 10 Year Points {{LTV_6170_10year_points}} 0
Loan to Value Ratio - 61-70% - 10 Year Payment Value {{LTV_6170_10year_pmt}} 1,790.68
Loan to Value Ratio - 61-70% - 15 Year Rate {{LTV_6170_15year_rate}} 5.625
Loan to Value Ratio - 61-70% - 15 Year APR {{LTV_6170_15year_apr}} 5.825
Loan to Value Ratio - 61-70% - 15 Year Points {{LTV_6170_15year_points}} 0
Loan to Value Ratio - 61-70% - 15 Year Payment Example {{LTV_6170_15year_pmt}} 1,359.16
Loan to Value Ratio - 61-70% - 20 Year Rate {{LTV_6170_20year_rate}} 6.125
Loan to Value Ratio - 61-70% - 20 Year APR {{LTV_6170_20year_apr}} 6.292
Loan to Value Ratio - 61-70% - 20 Year Points {{LTV_6170_20year_points}} 0
Loan to Value Ratio - 61-70% - 20 Year Payment Example {{LTV_6170_20year_pmt}} 1,194.04
Loan to Value Ratio - 61-70% - 25 Year Rate {{LTV_6170_25year_rate}} 6.250
Loan to Value Ratio - 61-70% - 25 Year APR {{LTV_6170_25year_apr}} 6.394
Loan to Value Ratio - 61-70% - 25 Year Points {{LTV_6170_25year_points}} 0
Loan to Value Ratio - 61-70% - 25 Year Payment Example {{LTV_6170_25year_pmt}} 1,088.45
Loan to Value Ratio - 61-70% - 30 Year Rate {{LTV_6170_30year_rate}} 6.375
Loan to Value Ratio - 61-70% - 30 Year APR {{LTV_6170_30year_apr}} 6.505
Loan to Value Ratio - 61-70% - 30 Year Points {{LTV_6170_30year_points}} 0
Loan to Value Ratio - 61-70% - 30 Year Payment Example {{LTV_6170_30year_pmt}} 1,029.39
Loan to Value Ratio - 60% and Below - 10 Year Rate {{LTV_60_10year_rate}} 5.375
Loan to Value Ratio - 60% and Below - 10 Year APR {{LTV_60_10year_apr}} 5.653
Loan to Value Ratio - 60% and Below - 10 Year Points {{LTV_60_10year_points}} 0
Loan to Value Ratio - 60% and Below - 10 Year Payment Example {{LTV_60_10year_pmt}} 1,780.48
Loan to Value Ratio - 60% and Below - 15 Year Rate {{LTV_60_15year_rate}} 5.500
Loan to Value Ratio - 60% and Below - 15 Year APR {{LTV_60_15year_apr}} 5.697
Loan to Value Ratio - 60% and Below - 15 Year Points {{LTV_60_15year_points}} 0
Loan to Value Ratio - 60% and Below - 15 Year Payment Example {{LTV_60_15year_pmt}} 1,348.19
Loan to Value Ratio - 60% and Below - 20 Year Rate {{LTV_60_20year_rate}} 6.000
Loan to Value Ratio - 60% and Below - 20 Year APR {{LTV_60_20year_apr}} 6.165
Loan to Value Ratio - 60% and Below - 20 Year Points {{LTV_60_20year_points}} 0
Loan to Value Ratio - 60% and Below - 20 Year Payment Example {{LTV_60_20year_pmt}} 1,182.11
Loan to Value Ratio - 60% and Below - 25 Year Rate {{LTV_60_25year_rate}} 6.125
Loan to Value Ratio - 60% and Below - 25 Year APR {{LTV_60_25year_apr}} 6.267
Loan to Value Ratio - 60% and Below - 25 Year Points {{LTV_60_25year_points}} 0
Loan to Value Ratio - 60% and Below - 25 Year Payment Example {{LTV_60_25year_pmt}} 1,075.74
Loan to Value Ratio - 60% and Below - 30 Year Rate {{LTV_60_30year_rate}} 6.250
Loan to Value Ratio - 60% and Below - 30 Year APR {{LTV_60_30year_apr}} 6.378
Loan to Value Ratio - 60% and Below - 30 Year Points {{LTV_60_30year_points}} 0
Loan to Value Ratio - 60% and Below - 30 Year Payment Example {{LTV_60_30year_pmt}} 1,015.93
Refinance APR Fees {{Refinance_APR_Fees}} 1,134.25
Purchase APR Fees {{Purchase_APR_Fees}} 2,102.00
First Time Home Buyer APR Fees {{FTHB_APR_Fees}} 1,452
First Time Home Owner Refinance APR Fees {{FTHO_Fefi_APR_Fees}} 539.25
Odd Day Interest {{Odd_Day_Interest}} 1,595.00
Purchase Rate Adjustor {{Purchase_Rate_Adjustor}} 0
First Time Home Buyer Rate Adjustor {{FTHB_Rate_Adjustor}} 0
Refinance Rate Adjustor {{Refi_Rate_Adjustor}} .125
Interest Checking - Rate {{checking_interest_rate}} 0.05
Interest Checking - APY {{checking_interest_apy}} 0.05
Gold 50 Checking - Rate {{checking_gold50_rate}} 0.10
Gold 50 Checking - APY {{checking_gold50_apy}} 0.10
Premium Checking - Rate {{checking_premium_rate}} 0.15
Premium Checking - APY {{checking_premium_apy}} 0.15
Home Business Checking - Rate {{checking_home_business_rate}} 0.05
Home Business Checking - APY {{checking_home_business_apy}} 0.05
E - Savings - $0.01 to $49,999 - Rate {{savings_esavings_49999_rate}} 1.00
E Savings - $0.01 to $49,999 - APY {{savings_esavings_49999_apy}} 1.00
E Savings - $50,000 and Over - Rate {{savings_esavings_50000_rate}} 1.25
E Savings - $50,000 and Over - APY {{savings_esavings_50000_apy}} 1.25
Statement Savings - Rate {{savings_statement_rate}} 0.70
Statement Savings - APY {{savings_statement_apy}} 0.70
Small Savers - Rate {{savers_small_rate}} 0.70
Small Savers - APY {{savers_small_apy}} 0.70
IRA Statement Savings - Rate {{savings_ira_statement_rate}} 0.70
IRA Statement Savings - APY {{savings_ira_statement_apy}} 0.70
Insured Money Market $0.01 to $49,999 - Rate {{moneymarket_49999_rate}} 0.60
Insured Money Market $0.01 to $49,999 - APY {{moneymarket_49999_apy}} 0.60
Insured Money Market $50,000 - $99,999 - Rate {{moneymarket_99999_rate}} 0.70
Insured Money Market $50,000 - $99,999 - APY {{moneymarket_99999_apy}} 0.70
Insured Money Market $100,000 - $199,999 - Rate {{moneymarket_199999_rate}} 1.00
Insured Money Market $100,000 - $199,999 - APY {{moneymarket_199999_apy}} 1.00
Insured Money Market $200,000 and Over - Rate {{moneymarket_200000_rate}} 1.25
Insured Money Market $200,000 and Over - APY {{moneymarket_200000_apy}} 1.25
6 Month CD - Rate {{cd_6mo_rate}} 0.45
6 Month CD - APY {{cd_6mo_apy}} 0.45
9 Month CD - Rate {{cd_9mo_rate}} 4.69
9 Month CD - APY {{cd_9mo_apy}} 4.80
12 Month CD - Rate {{cd_12mo_rate}} 0.55
12 Month CD - APY {{cd_12mo_apy}} 0.55
18 Month CD - Rate {{cd_18mo_rate}} 0.60
18 Month CD - APY {{cd_18mo_apy}} 0.60
24 Month CD - Rate {{cd_24mo_rate}} 0.65
24 Month CD - APY {{cd_24mo_apy}} 0.65
30 Month CD - Rate {{cd_30mo_rate}} 0.70
30 Month CD - APY {{cd_30mo_apy}} 0.70
42 Month CD - Rate {{cd_42mo_rate}} 0.75
42 Month CD - APY {{cd_42mo_apy}} 0.75
180 Days Jumbo CD - Rate {{cd_jumbo_180days_rate}} 0.50
180 Days Jumbo CD - APY {{cd_jumbo_180days_apy}} 0.50
365 Days Jumbo CD - Rate {{cd_jumbo_365days_rate}} 0.60
365 Days Jumbo CD - APY {{cd_jumbo_365days_apy}} 0.60
9 Month CD Special - Rate {{cd_9mo_special_rate}} .50
9 Month CD Special - APY {{cd_9mo_special_apy}} .50
13 Month CD Special - Rate {{cd_23mo_special_rate}} 4.69
13 Month CD Special - APY {{cd_23mo_special_apy}} 4.80
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