Illinois Fixed Rate Mortgage
Use this Illinois Fixed Rate Mortgage template to secure a home loan for a residential property.
- The mortgage form contains both uniform covenants under federal law and non-uniform covenants under Illinois law.
- The State-specific covenants cover such things as: acceleration of the loan if the borrower defaults; release and satisfaction of the mortgage upon repayment; waiver of homestead rights; and collateral protection insurance.
- The mortgage secures repayment of the principal amount of the loan, plus interest and any costs or charges payable by the borrower.
- You can re-use the template as often as you like. There are no additional license fees or costs.
Every mortgage lender doing business in Illinois should have the Fixed Rate Mortgage template. Buy it and download it now.
Last Updated: 14-April-2016