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Mortgage Lending | General Overview

Finding The Right Mortgage

Whether you are purchasing your first home, or are looking for different financing options, Sauk Valley Bank can help you find the right mortgage to fit your needs.  With many options to chose from, let our Mortgage Lenders help you today!


With a fixed rate loan, you will have peace of mind that your principal and interest payment will not change over the life of the loan.  We typically offer a 15, 20, and 30 year term, but you can structure the term based on your comfort with payment amounts.

Sauk Valley Bank also offers Rural Development loans with a 30 year fixed rate, and 100% financing.  These loans assist low-to-moderate income buyers in rural areas.


In the beginning, ARMs offer lower payments, which may be a good option if you plan on owning your home for a shorter period of time.  ARM loans or Adjustable Rate Mortgages have amortization schedules reflecting maturities of 10 to 30 years. We offer 3/1, 5/1 and 7/1 ARMS, which means the loan is fixed for the first 3, 5 or 7 years.


Home Equity Lines of Credit is typically a junior or second mortgage which secures a preset line of credit that a borrower can access. The balance fluctuates as funds are advanced on the line and reduces as the borrower repays the funds. Interest rates are typically variable and reflect a base rate usually Prime or Prime + 1. These loans are written as 5 year balloons. Customers have several options as far as repayment. It can be interest only, monthly or quarterly or 1% or 2% of the balance. We also offer a fixed rate second mortgage also ballooning at 5 years but can be amortized up to 10 yrs.


FHA Home Loans are mortgages insured by the Federal Housing Administration (FHA).  These loans are popular, especially with first-time homebuyers because the requirements are not as strict as a conventional loan.  These loans are different from a conventional loan because they have lower underwriting standards, and require less of a down payment.


A VA mortgage loan is guaranteed by the U.S. Department of Veterans Affairs (VA).  This loan is designed to offer long-term financing to eligible military veterans and active military members.  The VA loan is typically easier to qualify for than a conventional mortgage, and does not require mortgage insurance.  This can mean significant monthly savings for the borrower.

Ready to Get Started?

Start your home-buying journey here or request an appointment with one of our Mortgage Lenders.

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