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Whether you are buying a home, want to refinance your current home or gain access to your home’s equity, Old Second has a financing option to help you achieve your objective.
An Old Second adjustable-rate mortgage (ARM) may be appropriate if you plan on moving or selling your home within a specific time frame or if you want the flexibility of lower monthly mortgage payments in the early stages of your payback period. An Old Second residential lender can provide details of how ARMs work and help you decide if an ARM may be appropriate for your situation.
For large expenses, such as a home renovation or your child’s college education, you may be able to “put it on the house” with an Old Second Fixed-Rate Home Equity Loan. You can put your home’s equity to work via a loan featuring payback certainty: a fixed rate, a fixed loan amount and a fixed monthly interest and principal payment. An Old Second residential lender can help you decide if a fixed-rate home equity loan is right for you.
Take credit for—and from—your own assets. With our lines of credit, you can treat your home’s equity as your own personal bank. You decide how much you want to borrow, when you borrow it and how you want to pay it back. With Old Second’s Variable-Rate Home Equity Line of Credit, you are in control.