Mortgage Loans

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Buying a new home should be a pleasant experience.

(Mortgage loan documentation requirements)

Mortgages are our specialty! When DeWitt Savings Bank was founded in 1887 it was formed for just that reason and mortgage loans continue to be our main focus. 
Fixed Rates:
We continue to write fixed rates for those who want protection from market fluctuations and we offer various terms to suit your individual needs.  

Adjustable Rates:
We offer three different adjustable programs. For each program your interest rate is locked in for 1, 3, or 5 year intervals. When your loan “rolls over” your rate is adjusted to the corresponding treasury bill rate plus a margin. All ARMs have periodic rate and liftetime rate caps. Rates can increase or decrease depending on the treasury bill rate.

Rural Development Loans:
Mortgage Loans with no down payment are now possible. Please contact our mortgage department and find out more about this product.

Downpayment Plus:
We also participate in a program funded by the Federal Home Loan Bank. The program is a grant up to $6,000.00 per household on behalf of eligible homeowners based on income.

This is an excellent program for low-income borrowers. If the borrower stays in the home for at least five years the grant money does not need to be repaid. Please contact our morgage department and find out more about this product.

Non Residential Morgages:
We are always happy to talk with potential borrowers about mortgage loans on properties other than single family residences. We have been making mortgages loans on rental property, business property, farm ground and unimproved property for many years, so feel free to contact one of our loan officers about any non residential loan needs. 

We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan.

Once you know approximately how much home is in your price range, use the guide below or our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments.

Monthly Mortgage Payment Guide

Mortgage Amount4% APR5% APR6% APR7% APR
$60,000 $286$322$360$399
$80,000 $382$429$480$532
$100,000 $477$537$600$665
$120,000 $573$644$719$798
$140,000 $668$751$839$931
$160,000 $764$859$959$1,064
$180,000 $859$966$1,079 $1,198
$200,000 $955$1,074 $1,199 $1,331

The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest with a term of 30 years. We offer a variety of mortgage plans.

Is Refinancing Right For You?   Everyone’s situation is different. Give us a call today and speak to one of our mortgage loan experts at 217-935-9470.

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Mortgage RatesIcon For: Mortgage Rates

30 Year Fixed
Rate
3.875%
APR
3.925%
Points
0.000%
20 Year Fixed
Rate
3.750%
APR
3.819%
Points
0.000%
15 Year Fixed
Rate
3.375%
APR
3.463%
Points
0.000%
USDA - Rural Development
Rate
Call For Details
APR
Points
0.000%
Mortgage Loan Officers

APR is annual percentage rate. Please call 217-935-9470 for rates and products not displayed. Rates are based on the following assumption: Loan amount of $100,000. A 75% Loan-to-Value ratio. Credit Score of 720 or higher. Subject to approval.