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Loans


Personal Loan Products


McHenry Savings Bank offers loans to fund your major purchases and make your dreams reality.
Apply for a loan at any one of our branch offices.

Are you ready to purchase a home, or refinance your existing mortgage?
We can customize a financing plan to your specific needs using a variety of loan options including:

  • Fixed Rate Loans
  • Adjustable Rate Loans
  • Home Equity Loans
  • Home Equity Line of Credit
  • Consumer Loans
  • Construction Loans
  • Balloon Loans
  • Jumbo Loans
  • Vacant Land Loans

For loan inquiries, please call us at 815-385-3000, or email to loan@mchenrysavings.com
For applications or rates and terms call or visit one of our branch locations.

Home Equity Loans Equity in your home can finance home improvements, pay for major purchases or consolidate debt. Have your payment automatically deducted from your McHenry Savings Bank checking account and receive a % reduction in the interest rate for the loan. Interest may be tax deductible. Consult your financial advisor for guidance.

Home Equity Line of Credit Use the equity in your home to establish a McHenry Savings Bank Home Equity Line of Credit. It gives you the flexibility of a revolving line of credit, amounts borrowed can be paid at any time and the line can be utilized as often as needed. Interest is charged only on outstanding principal balances. It's as simple as writing a check. Interest may be tax deductible. Consult your financial advisor for guidance.

Consumer Loans Do you dream of buying a car, boat, motorcycle, or even an airplane? McHenry Savings Bank has a loan to make your dream reality. Applications are available at all locations and a Consumer Application can be viewed here.


Type of Loan                        Details
New Auto Loan Terms up to 72 months
Used Auto Loan Terms up to 60 months, determined by model year (used autos up to 10 years old will be considered for financing)
New Boat Loan Terms up to 180 months, determined by amount to be financed
Used Boat Loan Terms up to 180 months, determined by model year (maturity of loan not to exceed 15 year anniversary of boat + amount financed)
Home Equity Loan Terms up to 120 months, Fixed Rates, Owner occupied single family residence, Non-owner occupied single family residence
Home Equity Line of Credit Variable rate, based on prime rate as published in the Wall Street Journal, 120 month term, Interest only payments, payable monthly, Non-owner occupied single family residence: finance up to 70% of the value, existing mortgage(s)
New Recreational Vehicle Loan Terms up to 180 months, determined by amount to be financed
Used Recreational Vehicle Loan Terms up to 180 months, determined by model year + amount financed
New & Used Motorcycle Loan Terms up to 72 months, determined by model year and amount financed
Aircraft Loan Fixed or variable rates available, Terms up to 120 months, Both personal and commercial loans