Term
Annual Percentage Rate
5-year fixed rate As low as 6.50% APR*
10-year variable rate As low as 5.25% APR**

Term Equity Loan Rates

Term

Rate
5, 10 and 15-year fixed rates As low as 6.250% interest rate***

We have a program to fit your specific needs!
Call or visit one of our loan professionals for more details and to schedule an appointment at 574.277.4200 or 800.400.0433 or get started on a loan application.

Equal Housing Lender

DISCOSURES:

For all above programs: Rates are subject to credit approval, were effective as of 1.12.05 and are subject to change without notice. Add 0.25% to the Annual Percentage Rate if payments are not paid electronically from an MFB account. Your rate will be dependant upon variables such as the product you select, your credit rating and the total loan-to-value ratio. Property securing the loan must be borrower’s primary residence and located within St. Joseph, Elkhart, Marshall or LaPorte counties in Indiana or Berrien, Cass or St. Joseph counties in Michigan. There is no annual fee and MFB may waive fees to open the account. However, a $325 cost recapture fee applies if the account is closed within two years. Property insurance is required. Flood insurance is required when applicable. Consult your tax advisor regarding deductibility of interest.

*5.99% APR (Annual Percentage Rate) fixed-rate plan with draws available for 5 years. APR (Annual Percentage Rate) is higher if the total loan-to-value ratio exceeds 80%. Minimum loan amount is $5,000. Monthly payments are interest only and a final balloon payment may result at maturity.

**5.25% APR (Annual Percentage Rate) is a variable rate plan with a 10 year draw period. The rate may change monthly; it is based on the Wall Street Journal Prime Rate plus a margin of 0.00% – 2.25% and will never be lower than 4.25% APR or exceed 18% APR. The APR is higher if the total loan-to-value ratio exceeds 80%. Add 0.25% to the margin and resulting APR if payments are not paid electronically from an MFB account. Minimum loan amount is $5,000. Payments are interest only during the draw period. At the end of the draw period, a fixed payment is established equal to the higher of 2% of the then current balance or $100. The resulting payment will remain fixed until the loan is paid off although the APR will continue to vary.

***6.250% interest rate is a 5-year, fully-amortizing loan with no draw period. Payments are $194.85 per $10,000 borrowed at an APR (Annual Percentage Rate) of 6.683%. Ten and 15 year terms are available at higher rates. APR(Annual Percentage Rate) is higher if the total loan-to-value ratio exceeds 80%. Minimum loan amount is $5,000.