Pursue what's Possible Pursue what's Possible.
Skip to Content
800.205.0914

800.205.0914

Locations Contact

Login

Home Loans

Purchasing a New Home?

Purchasing a New Home?

Posted On: January 19, 2021 by Prevail Bank in: Home Loans

 

Sales in the housing market continue to be strong as we head into 2021. Driven by buyer demand growing in response to low industry-wide mortgage rates. Get pre-approved and find the mortgage rate that fits your needs today to make the process quick and easy!

We currently have special rates available to new home purchase customers. To find out your home loan rate, enter your information in the “Find Your Rate” Mortgage Calculator to see your mortgage rates...

Read More

Tags: First Time Home Buyer, home loan, mortgage rates

Home Loans... More than just a rate.

Home Loans... More than just a rate.

Posted On: January 4, 2021 by Prevail Bank in: Home Loans

What is a mortgage loan rate?

Rate or interest is simply a percentage of the loan a lender charges to borrow money. This figure is beneficial to know so you can compare the cost of different lenders. To make the comparison easier, lenders must also inform you about how that interest rate will affect your payments over an entire year. This interest is known as the Annual Percentage Rate or APR, and it also includes any fees or additional costs associated with the loan.

Lower isn’t...
Read More

Tags: buying a new house, home loan, Mortgage Lender, mortgage rates

Kerri Burns

Should I Refinance?

Posted On: November 30, 2020 by Prevail Bank in: Banking, Community, Home Loans

Should I Refinance?

 

When deciding if refinancing your home loan is the best option, you will need to consider all necessary information to make an educated decision. Other than whether you can receive a better mortgage rate, there are many reasons people refinance their mortgage. Some of these reasons should have a higher priority than others.

When looking at refinancing, you should ask yourself these basic questions to determine if refinancing is right for you at...

Read More

Tags: home loan, mortgage, Mortgage Lender, refinance

Which Home Loan is Right for You?

Which Home Loan is Right for You?

Posted On: October 19, 2020 by Prevail Bank in: Home Loans

 

Are you getting ready to dive into your first home purchase? Before doing so, it’s helpful to learn the difference between two types of loans offered by banks, to make an educated decision. These two loans are Portfolio and Secondary Market Loans.  Ultimately, deciding which of these loans is best for you, will depend on your preferences and unique circumstances.

What is a Portfolio Loan?

Portfolio loans are both owned and managed by your local bank. ...

Read More

Tags: Local, Mortgage Lender, portfolio loan, secondary market loans

How to Afford a Down Payment without having 20%

How to Afford a Down Payment without having 20%

Posted On: September 18, 2020 by Prevail Bank in: Home Loans

How to Afford a Down Payment without having 20% Private Mortgage Insurance can Help What is Private Mortgage Insurance?

While putting 20% down on a home loan is the most cost-efficient option long-term, we understand that down payments can be difficult for many families to make. To assist home buyers who are unable to put at least 20% down on a home loan, Prevail Bank offers what is called Private Mortgage Insurance, or PMI for short.* PMI was established to help more homebuyers afford...

Read More

Tags: Down Payments, Home Lending, Mortgage Lending, Private Mortgage Insurance

Bryan Wulk

Who you Work with Matters

Posted On: August 24, 2020 by Prevail Bank in: Home Loans

While finding the best rate on a home mortgage is important, so is finding the best mortgage lender to work with you. Home buyers typically make mortgage payments over the course of multiple years, so it’s important to work with a lender who can deliver on your home lending needs. There are many criteria to consider when finding a mortgage lender to work with; experience, communication, insight and credibility.

Experience

Taking a loan out on a house is no small feat, and our...

Read More

Tags: mortgage, Mortgage Lender

Downpayment Plus Program (DPP)

Assistance through the Downpayment Plus Program (DPP)

Posted On: July 27, 2020 by Prevail Bank in: Home Loans

The Downpayment Plus Program (DPP) is a matching program offered by the Federal Home Loan Bank of Chicago (FHLBC) that assists income-eligible home buyers with their down payments and closing costs. The Prevail Bank Mortgage Lending Team is proud to offer this assistance through our partnership with the FHLBC. The Downpayment Plus Program is provided as a forgivable grant, which is paid on behalf of the borrower at the time the mortgage is first closed upon.

What is the Downpayment Plus...
Read More

Tags: Down Payment, Down Payment Assistance, Downpayment Plus Program, Home Lending, home loan

Local Mortgage Lenders vs. Online Lenders

Posted On: June 22, 2020 by Prevail Bank in: Home Loans

 

In today’s digital world, we have options to do nearly everything online. We can shop for groceries, order a new outfit, and even buy the latest sports car online. At Prevail Bank, we believe that local mortgage lenders will never go out of style.

We offer the convenience of online applications, or, by your preferred method of communication; email, phone call, or even text. But most importantly, your lender is always here when you need them, at the point of application,...

Read More

Tags: Local, Mortgage Applications, mortgage calculator, mortgage lenders, Online Lender

Understanding Credit Reports

Understanding Credit Reports

Posted On: May 18, 2020 by Prevail Bank in: Banking, Home Loans

What is a Credit Report?

Understanding your credit report is important when you’re looking to make large purchases such as financing a car, or a home mortgage. But what exactly is a credit report? A credit report works much like your high school report card, but for your finances. These reports contain a record of how and when you pay your bills, how much debt you have, and how long you have been managing your lines of credit.

The information in your credit report is used to...

Read More

Tags: Credit Report, credit score, mortgage

Thumbnail

Do I Really Need 20% Down on a Home Purchase Loan?

Posted On: April 27, 2020 by Prevail Bank in: Home Loans

What is a Down Payment?

Saving enough money for a down payment on a home can be challenging. This is one of the largest issues many homebuyers face when applying for a mortgage loan. A down payment on a home is simply a percentage of the total cost that a buyer has to pay up front.

How much is required as a Down Payment?

Minimum down payments are typically based on three sets of criteria; the type of mortgage, the lender, and your financial situation and history. Depending on the...

Read More
Aa Aa Aa
Help

Please Select an Online Account

Mortgage Application Elan Credit Card Login