Home Loans

Mortgage Loans

Byron Bank has been one of the leading mortgage lenders in Ogle County for many years. We have made mortgages our specialty and it shows! Our loan department is organized with expertise and friendly service that other mortgage lenders cannot match….just ask around and you will find our best advertising….satisfied customers. We have many types of loans available and our knowledgeable loan officers can help you decide which one is best for you.

  • VA
  • Fixed Rates
  • Up to 100% financing, including Guaranteed Rural Housing
  • Lot & Construction Package
  • Adjustable Rates
  • First Time Homebuyer programs & grants
  • Downpayment Plus

Because we are a locally-owned bank, we can look at each request individually and help you make the best choice for your needs. We are very creative and can often help people who feel they can’t afford a home. Some of the other features we offer are:

  • Free pre-qualification
  • Automatic payment
  • Quick turn around & closings
  • Competitive rates
  • Mortgage Life Insurance
  • Streamlined refinancing
  • Tax escrow
  • Experienced staff
  • Loans serviced at Byron Bank.

Junior Mortgage

Using the equity in your home is a quick and easy way to borrow extra funds. A junior mortgage may be for home improvements, college costs, auto purchases or for many other reasons. It can be set up with a repayment plan that fits your budget. And, the interest is usually tax deductible. (check with your tax advisor)

Home Equity

A home equity line of credit differs from a junior mortgage because the interest rate is variable and the principal is not due until maturity. You only need to pay the interest each month. This loan is convenient for large or small purchases. You do not need to reapply each time you need money. The credit line offers flexibility and is continually available to you. This is an excellent way to pay off high interest rate credit card debt. The interest is usually tax deductible. (check with your tax advisor)

Construction Loans

Byron Bank has new construction package loans available at very reasonable rates. If you get your permanent mortgage with us, you will receive perks for having your construction loan here.

Refinancing

When should I refinance? The old rule of thumb was a 2% lower rate. Today, if the rates fall as little as 1/4% below your current rate you should check into refinancing your loan. Call your loan officer anytime to see if refinancing makes sense for you.