Home Equity Loans and Lines of Credit

• S.A.F.E. Act Information

  The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act) is designed to enhance consumer protection and reduce fraud by encouraging states to establish minimum standards for the licensing and registration of state-licensed mortgage loan originators. Consumers may go to a public web site and review the current status and work history of all registered mortgage loan originators. For a list of Old Second's S.A.F.E. Act registered personal bankers and instructions on how to research those lenders, click the title above.

• The Fixed Rate Home Equity Loan

  For the larger expenses like a home renovation, you have the option of literally “putting it on the house” with an Old Second Fixed Rate Home Equity Loan. This particular option provides greater certainty in the form of: a fixed rate; a fixed borrowed amount; and a regular monthly interest and principal payment.

  • Predictable, fixed monthly principal and interest payment for the life of the loan
  • No increased interest rate risk since the loan rate is locked in
  • Automatic payment options available through O2 Online Banking (when you have a checking or a savings account)

• The Variable Rate Home Equity Line of Credit

  Take credit for—and from—what you own. With our lines of credit, you can treat your home like your own personal bank. Determine how much you want to borrow, when you borrow it and how you want to pay it back. You are in control.

  • Once a line of credit is established, it provides you with easy access to your home equity
  • This is a reusable source of credit—you may pay it down, and then borrow against it again
  • Automatic payment options available through O2 Online Banking (when you have a checking or a savings account)

Auto and Personal Loans

• Auto Loans

  When it’s time for a new car—or simply one that is new to you—Old Second can put you in the driver’s seat with a speedy approval process and the efficient handling of payment services.

  • Quick, in-branch loan approvals
  • Take advantage of automatic payment options and put an end to postage expenses, late fees or lost mail
  • FREE O2 Online Banking Services

• Personal Loans

  Whether you need help with debt consolidation, unexpected repair bills or other major purchases, Old Second has financing arrangements structured to fit your needs.

  • Quick, in-branch loan approvals
  • Take advantage of automatic payment options and put an end to postage expenses, late fees or lost mail
  • FREE O2 Online Banking Services