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At First Midwest, you'll get the home equity financing you want and the momentum you need . . . plus $75 to get you started.1 Want some?
Our home equity experts will be with you every step of the way:
Call 800-241-1749 to get connected with a First Midwest home equity expert or simply complete your application online right now.
Home Equity Line
Home Equity Loan
See how low your monthly payments can be with our Home Equity Line . . .
You'll enjoy a low 3.50% APR2 for the first 12 months and a still low 4.00% APR2 after that.
Start the application process right now, and get $75 at closing1 to get your project going. Plus, enjoy a 10 year draw period, 20 year fixed repayment term, and no balloon payment. That's banking with momentum.
Looking for a Home Equity Loan? Our low rates and flexible terms will give you the momentum you need to tackle any project.
1Offer is available to residents of IL, IN, IA and WI for a limited time and may be withdrawn at any time without notice. Apply for a new Express Home Improvement Loan and/or Home Equity Line and Loan between 03/08/14 and 04/18/14 to be eligible for a $75 home improvement store gift card incentive upon closing of the loan. Incentive will be rewarded as a gift card redemption certificate within 90 days of loan closing. Incentive is considered interest and may be reported on IRS Form 1099-INT. This offer cannot be combined with any other offer(s). 2Rate shown based on 90% loan-to-value (LTV) for $10,000 approved line at Prime + 1.50% or 4.00%, whichever is higher. APR may vary after first 12 months. The 3.50% APR offer is available on EquiFlexSM Home Equity Lines of Credit with an LTV up to 90% with a minimum approved credit line of $25,000. APR will change based on Prime plus or minus a margin designated by program and plan selected. The APR is indexed to the Prime Rate as posted in the Wall Street Journal. As of 3/31/14, Prime is 3.25%. LTVs up to 75% are Prime+0 to Prime+2.00. LTVs between 75.01% and 80% are Prime+0.50 to Prime+1.25. LTVs between 80.01% and 85% are Prime+0.75 to Prime+1.00. LTVs between 85.01% and 90% are Prime+1.00. The maximum APR is 18.00%. The minimum APR is 4.00% after the initial promotion period. APR and margin apply to owner-occupied dwellings only. Offer is subject to credit qualifications. Property insurance required on properties secured by this plan. Other rate enhancements do not apply. If a Credit line is closed within the first 24 months, the fee will be $200 for lines $10,000-$24,999, $350 for lines $25,000-$250,000, and $750 for lines greater than $250,000. (does not apply to Iowa residents). Offer is available for new EquiFlexSM Home Equity Lines only and to current First Midwest Home Equity clients whose current line is within 12 months or less of maturity. Offer may change or be withdrawn at any time without notice. Annual fees of $50 for IL and $15 for IA residents who apply. All loans are offered through First Midwest Bank.
3The EquiFlexSM Home Equity Line of Credit Annual Percentage Rate (APR) is variable and is based on the highest Prime Rate published each day in The Wall Street Journal (the "Index"), plus a margin. The index as of the last change date of March 27, 2014 is 3.25%. Current margins for lines of credit from $10,000; secured by owner-occupied properties with 90% loan-to-value range from Prime + 0.25% to Prime + 2.25%, resulting in corresponding variable APRs ranging from 4.00% to 5.00%. For larger loan amounts, please contact us. Minimum APR is 4.00%; maximum APR is 18.00%. APR does not include costs. Your APR will be based on the specific characteristics of your credit transaction, including evaluation of credit history, LTV, property type, amount of credit, and term. There is a $50 annual fee which is waived for the first year. If a Credit Line is closed within the first 24 months, the fee will be $200 for lines of credit $10,000-$24,999, $350 for lines $25,000-$250,000 and $750 for lines greater than $250,000. This Account has a Draw Period of 10 years, after which any outstanding balance will be automatically converted to a 20 year fully amortized Repayment Period.
†Loan example as of 02/25/14: Annual Percentage Rate (APR) is 5.00% based on a $50,000 hypothetical loan amount, 180 monthly principal and interest payments of $395. These criteria and rates are subject to change without notice and are determined from those offered as of the date of application.