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Refinance
your Home Equity Loan
First Northern offers home equity loans and lines of credit
to members on their Illinois residences. If you're paying too
much for your loan at another financial institution, let us know.
Chances are good that we can lower your rate, give you a cash
incentive – or both! To
find out what we can offer you, click here.
Loyalty discount
Take advantage of a rate .25% lower than our published
fixed-rate home equity loan if you have direct deposit into our Preferred or Advantage
Checking accounts.
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Refinance with us and compare your savings
over the life of of your loan
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Amount
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Current rate with other lender
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 |
8.00%
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8.50%
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9.00%
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9.50%
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$15,000
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$221
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$437
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$605
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$874
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$20,000
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$292
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$580
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$871
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$1,163
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$25,000
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$365
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$725
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$1,089
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$1,454
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$30,000
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$439
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$871
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$1,307
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$1,746
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$35,000
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$512
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$1,017
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$1,525
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$2,037
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$40,000
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$585
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$1,161
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$1,743
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$2,328
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Financing comparisons based on a 60-month term on a home equity loan rate of 7.49% APR. Repayment example: 7.49% APR for 60 months is $20.04 per $1,000 borrowed. Rates are subject to change. This chart is for example purposes only. Consult one of our Financial Service Advisors for the rate specific to your offer.
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This page was last revised: 2/13/13
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Home
Equity Loans
(Borrow up to 85%
of your home's equity) |
| 5-year fixed |
3.49% APR* |
| 10-year fixed |
4.99% APR* |
| 15-year fixed |
5.49% APR* |
Home
Access Loans
(Borrow up to 100%
of your home's equity) |
| 7-year fixed |
8.49% APR* |
| *APR = Annual Percentage Rate. Subject to credit approval. Rates are subject to Lender’s credit criteria, certain conditions, and restrictions. Offer valid on Illinois residences only. Fixed rate repayment example: 5.49% APR for 120 months is $10.85 per $1,000 borrowed. |
Home
Equity Line Of Credit
(Borrow up to 85%
of your home's equity) |
| Line of Credit |
4.00%** APR* |
Home
Access Line Of Credit
(Borrow up to 100%
of your home's equity) |
| Line
of Credit (variable) |
7.00%** APR* |
| *APR = Annual Percentage Rate. Home Access Line of Credit carries a variable rate, loans are subject to credit approval. Rates are subject to Lender’s credit criteria, certain conditions, and restrictions. Rates are subject to change. The rate is set and adjusted each January and July 1st based on the Prime Rate as published in The Wall Street Journal plus a margin of -.50% for Home Equity Loan and 2.00% for Home Access Loan. Your margin may vary based on your credit qualifications. As of 10/2/12 the Prime Rate was 3.25% APR. **These reflect product floor rates and are higher than the index plus margin. |
 Equal
Housing Lender |
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