Mutual Bank - Mortgage

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Loan Fees and Service Charges
(Fees and Rates Subject to Change without Prior Notice)

First Mortgage
Mutual Bank is committed to keeping mortgage costs and fees to a minimum.

Choose from our low closing cost or no closing cost options.

For more information and personal quote please call:
Kimberly Morgan at 630-357-1100 x128
Janet Casalina at 630-357-1100 x112

Second Mortgage Home Equity	Length	APR
$5,000 minimum loan request No application fee No Points Average appraisal - $275 Average plat of survey - $175 85% LTV	12 to 36 months	7.50%
	36 to 60 months	7.75%
	60 to 84 months	8.00%

Miscellaneous Mortgage Fees:

Drive-by Appraisals $175
Periodic Inspections(by MTB) $85
Duplicate Release Deeds $40
First Pay-off Letter $25
Check return for Insufficient funds:
$25 – each time

Mortgage:

Thereafter $35 (1/2% point on outstanding balance)
Documentation fee $250 (under $250,000)
Documentation fee $500 (over $250,000)

Home Equity Line of Credit Guidelines**

Minimum loan request: $10,000.00
Minimum transaction amount is: $500.00
No application fee, no points and no closing costs.
There is an annual fee of $25 (waived 1st year)
Interest-Only payments. The minimum payment is calculated on the daily outstanding principal balance due and is calculated on a 365 basis.
Loan term is 7 years.
Home insurance required at time of closing
Flood insurance required at time of closing (if applicable)
Principal balance due at time of maturity
This loan is based on a variable rate and can change at anytime
Prime rate is 5.00% (as of April 30, 2008)

** Your account has a floor rate of 6.00% and a ceiling rate of 18.00%. The rate will change on the first day of the next month following the Prime Rate change. There is no limit on the amount by which the annual percentage rate can change during any one year period.

There is a late fee of 5.0% of the payment due.

There is a $25.00 NSF fee on all returned checks.

There is an over the limit fee of $25.00

There is a penalty of $400 due if the line is closed before 12 months.

85% Loan to value.

For more information please call:
Valerie Ayar at 708-339-2900


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