Whether you are looking to buy or refinance a home, purchase a car, or consolidate debt, our diverse loan programs will give you the solutions you seek.

Personal Loans: Mortgage

When you make the decision to build or buy a home, or to improve the home you now own, we can help. We offer a wide variety of competitive mortgage rates and terms to fit your needs, as well as home equity loans to use for a variety of purposes. Stop in today and speak to a WSB personal banker to find out which loan is right for you.

Fixed-Rate Loans 

A variety of repayment terms are available.

• Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan.
• Interest rates are quoted based on the term of the loan requested.

Adjustable-Rate Loans

• Usually have a lower initial interest rate than fixed rate loans.
• The interest rate fluctuates over the life of the loan based on market conditions.
• The loan agreement sets the date on which the interest rate and monthly payments can change.
• An "interest rate cap" places a limit on the amount the interest rate can increase or decrease.
• Interest rates are quoted based on the frequency of interest rate adjustments.

FHA/VA Loans

• Smaller down payment
• Fixed rate and ARM loans available
• Lower monthly payments
• Flexible loan terms

Balloon Loans 

• They have a fixed interest rate.
• The interest rate is usually lower than fixed-rate loans.
• A variety of amortization terms are available.
• There is a lump sum (balloon) payment due at maturity.

Home Equity Line of Credit Loans 

• HELOCs are adjustable loans with an extended repayment term for owner occupied dwellings.
• Application is made for a maximum credit limit that is revolving/reusable.
• Funds are accessed through a dedicated checking account.
• Accounts are billed interest due each month.
• The total loan-to-value (first and second lien) maximum is 80%.

Fixed-Rate Home Equity Loans

• A variety of repayment terms are available.

Real Estate Investor Loans 

• Available for tenant-occupied residential dwellings.
• Fixed, Balloon, and Adjustable terms are offered.

Construction/Permanent Financing 

• Available if you need payments made to contractors during construction of your new home.
• Use of an experienced contractor is required.
• Up to four disbursements are allowed during construction.
• We generally finance up to 80% of value under this adjustable-rate program.

Vacant Lot Loans 

• The purchase of a future home site may be financed.
• We generally finance up to 75% of value under this balloon loan program.

Bridge Loans

• Borrow money on equity against current home to finance new home; good for relocation

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Personal Loans: Consumer

Waukegan Savings Bank offers loans to fit your needs.  Whether you are purchasing a new car or boat or consolidating debt, we'll assist in helping you with the right loan. Stop in and apply today.

Automobile

• Fixed-rate programs are available for the purchase or refinance of vehicles manufactured within the past 20 model years.
• A variety of loan terms are available.
• 85% LTV maximum.

Personal Loans 

• Secured and unsecured loans are available to a maximum of $1,000.
• Fixed-rate repayment terms are available.

Debt Consolidation Loans 

• Secured and unsecured loans up to $10,000 are available.
• Fixed-rate repayment terms are available.

Collateral Loans 

• Keep your savings intact and earn interest.
• Use your savings account as collateral for your loan.
• Low rates, flexible terms, immediate approval, instant cash.

Student Loan Programs

• Save money with the Smart Option Student Loan.®.  
• By paying fixed monthly payments of just $25 while in school and adhering to the shorter repayment period, you can save more than $6,000 and pay off your loan up to 5 years faster than a traditional 15-year payment deferred private student loan.

• Apply with a creditworthy cosigner—their good credit may lower your interest rate and save you even more money.