HomeStar Bank -#1 Lender in Kankakee County

HomeStar Bank offers a complete line of loan products to help you with life’s ups and downs. We provide home loans, auto loans, home equity loans, personal loans and construction loans. Why not let us help you with a loan designed especially for you?

Because HomeStar Bank’s loan programs are provided by experienced and knowledgeable loan officers who take the time to understand your particular financial needs, HomeStar Bank has long been known for a strong record of customer service and satisfaction. We are a locally owned bank with local decision-makers. That means we can give you an answer without delay. We are Kankakee County’s #1 home loan lender.

Consumer Loans

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HomeStar Bank provides a complete selection of consumer loan products to meet your needs. Whether you’re buying a new or used vehicle, mobile home, boat or RV or need extra cash for something special, HomeStar Bank is your one stop consumer loan shop. We deliver quick turn around and have some of the most competitive interest rates and terms around.

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Construction Loans/Lot Loans

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Ready to build that home you’ve been dreaming about? With a HomeStar Bank construction loan, we can make your dream a reality. Whether you have hired a professional homebuilder, or you are acting as your own general contractor, HomeStar Bank can help. And when your home is complete, we offer the most competitive mortgage rates around.

Mortgage Loans

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As Kankakee County’s home loan leader, we pride ourselves on quality loan products and superior service. Our loan personnel take special care in finding a particular loan product that fits your needs. Whether it’s a purchase or refinance of your home, an investment property or a residential lot, we have a product for you. We offer long term fixed rate loans, adjustable rate loans and balloon loans, both conventional and FHA/VA, and Rural Development loans, all at very competitive rates.

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Home Equity Loans

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Considering a home improvement? Do you have a student on their way to college? Do you want to payoff those high interest rate credit cards? A home equity loan might be the answer. Consult with your own tax advisor, but in many cases, the interest expense on a loan secured by your personal residence is tax deductible. HomeStar Bank offers options to fit your needs:

1) Fixed Second - This loan is paid to you in one lump sum and you pay it back in equal monthly payments sufficient to repay the loan in full over the life of the loan. The monthly payment terms can be customized to fit your household budget.

2) Home Equity Line of Credit (PowerLine) - This is a line of credit that you draw against as you need it and can be used over and over again. What you receive is a maximum credit line and a checkbook. When you need funds, simply write a check. Monthly payments are minimal. You only pay for what you use.

Mortgage Recordings:

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It is a legal requirement that a public notice be made of any mortgage or lien against real estate. This is accomplished in Kankakee County and all counties in Illinois by recording a document with the county recorder. One document is recorded for each transaction, whether that transaction is a loan of $5,000 for a new garage or $50 million for a shopping center. HomeStar Bank considers the number of customers served (documents) as the best indicator of market share rather than the size of the loan (dollars).

The charts below report this information for the current year to date and for the years 1991 through 2005. You can see that HomeStar Bank is the home loan leader in the County and has held that position for many years. Our #1 position comes from quality customer service day after day and the word of mouth referrals of our customers.

Kankakee County Mortgage Recordings: Year to date 2008

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Lenders	Docs	%	Dollars	%
HOMESTAR BANK	1,059	22.6	121,566,730	20.9
Bank of Bourbonnais	30	0.6	3,999,256	0.7
Commonwealth Credit Union	47	1.0	2,422,200	0.4
First American Bank	38	.8	2,610,706	0.4
FNB of Grant Park	85	1.8	8,204,096	1.4
National City	322	6.9	34,916,792	6.0
First Trust Bank of IL	184	3.9	22,447,858	3.9
KFS/Centrue	236	5.0	20,761,808	3.6
Mainsource/Capstone	78	1.7	8,149,541	1.4
Municipal Bank and Trust	160	3.4	22,716,810	3.9
Peoples Bank	317	6.8	38,484,162	6.6
State Bank of Herscher	285	6.1	36,420,017	6.3
All Others	1,852	39.5	258,709,265	44.5
Totals	4,693	100.0	581,409,241	100.0

Kankakee County Mortgage Recordings 1991-2007

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Lenders	Docs	%	Dollars	%
HOMESTAR BANK	25,714	22.0	2,234,520,680	16.6
Bank of Bourbonnais	948	0.8	104,116,020	0.8
Capstone Bank	1,389	1.2	122,692,354	0.9
Commonwealth Credit Union	1,490	1.3	55,682,901	0.4
First American Bank	5,846	5.0	253,610,137	1.9
FNB of Grant Part	1,074	0.9	102,195,835	0.8
First of America/National City	9,461	8.1	755,714,510	5.6
First Trust Bank of IL	1,831	1.6	183,579,755	1.4
Kankakee Federal KFS/Centrue	11,235	9.6	769,537,377	5.7
Municipal Bank and Trust	5,642	4.8	580,347,546	4.3
Peoples Bank	6,269	5.4	554,349,162	4.1
State Bank of Herscher	2,396	2.0	250,688,106	1.9
All Others	43,622	37.3	7,479,315,299	55.6
Totals	116,917	100.0	13,446,349,682	100.0