Loans
Auto Loans
Buying a car is much less stressful with a new or used auto loan from First Bank. Obtain your pre-approval before you begin shopping for your car, and you’ll know exactly what you intend to spend before you set foot on the lot. Take advantage of the following benefits:
- Flexible payment terms
- Competitive interest rates, fixed for the life of the loan (see current rate sheet)
- Flexible down payment options
- Pre-approvals
*New autos are 80% financing. Used autos are 70% financing. Full insurance (collision, comprehensive, etc.) required on all auto loans.
Personal Loans
Whether you need to consolidate bills or make a significant purchase, First Bank’s personal loans offer the perfect balance of flexibility and competitive rates. As a First Bank customer, you’ll receive:
- Flexible payment terms
- Competitive interest rates, fixed for
the life of the loan (see current rate sheet) - Access to local decision-makers
- Quick turnaround
First Bank’s Home Equity Line of Credit makes it easy for you to access the equity in your home to make home improvements, take a dream vacation, consolidate your bills, or make any other purchase. Our Home Equity Lines of Credit offer the following benefits:
- No points, no closing costs and no application fee
- Competitive interest rates; floating rate (see current rate sheet)
- Easy access to line of credit with checks
- Billing statements mailed each month with payments only upon the amount borrowed
- No interest charge until you use your credit line
- Term: 15 years
- Repayment: monthly interest plus 2% of principal balance outstanding; “balloon” payment due at end of 15 year term
- “Revolving” loan allows customers to draw down
and pay back line as needed
*Home Equity Loans over $250,000 require Title Insurance, Appraisal and fees may also apply. Interest payments may be tax-deductible; consult your tax advisor. (see current rate sheet)
Home Equity Hybrid Line
of Credit
Customers who plan on borrowing at least $25,000 and who maintain a deposit account with a balance of at least $5,000 qualify for First Bank’s Home Equity Hybrid Line of Credit. The Hybrid Line of Credit offers the same benefits of the Home Equity Line of Credit, along with an even more competitive interest rate.
- Rate: fixed for the first five years, variable
thereafter (see current rate sheet) - Term: 15 years
- Repayment first five years: monthly interest
only based on principal outstanding - Last ten years: monthly interest plus 2% of
principal balance outstanding; “balloon”
payment due at end of 15 year term - “Revolving” loan allows customers to draw
down and pay back line as needed during the
first five years; loan stops revolving at the end
of year 5
Fixed Rate Home Equity Loans
For customers who want to access their home equity and have predictable monthly payments, First Bank’s Fixed Rate Home Equity Loans offer the following:
- No points, no closing costs and no application fee
- Competitive interest rates fixed for the life of
the loan (see current rate sheet) - Billing statements mailed each month with
payments only upon the amount borrowed - Loan fully funded at closing
Rate: fixed rate (see current rate sheet) - Term: 5, 10, and 15 years
- Repayment: fixed payments of principal and
interest over the life of the loan so that full
amount is paid off by the time the loan matures - Full amount drawn at closing with no additional
draws allowed over the term of the loan
