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Home Equity Loans

A home equity loan is secured by your primary residence and allows you to use the equity in your home to pay for home improvements, college, autos and much more.

Open End Home Equity Line of Credit

The open-end loan program will have the revolving Line of Credit Feature.

Credit Score < 70% TLTV / Floor APR 71% - 80% TLTV / Floor APR
740 Prime + 0 / 4.00 4.011% Prime + 1 / 5.00 5.013%
739 - 720 Prime + 0 / 4.50 4.512% Prime + 1 / 5.50 5.515%
719 - 700 Prime + 0 / 5.00 5.013% Prime + 1 / 6.00 6.016%
699 - 680 Prime + 0 / 5.50 5.515% Prime + 1 / 6.50 6.517%
679 - 660 Prime + 0 / 6.00 6.016% Prime + 1 / 7.00 7.017%
659 - 640 Prime + 0 / 6.50 6.517% Prime + 1 / 7.50 7.517%
639 - 625 Prime + 0 / 7.0 7.017% Prime + 1 / 8.0 8.018%

60 Month Term - * The Annual Percentage Rate (APR) is based on the floor rate on the above grid and assumes a loan amount of $25,000.00 and assumes FNB holds the first mortgage on the property. The APR is a variable rate indexed to the Prime Rate as Published in the Wall Street Journal, currently 3.25% as of 5-18-2012 and adjusts monthly. Rate will not adjust below the floor rate and will not adjust above 16.043% APR. Rates are subject to change. Monthly payments are interest only based on the average daily loan balance. A balloon payment will be due at the end of the 60 month term and will be $25,339.73 based on the maximum APR of 16.043% and assuming the entire $25,000.00 principal balance is outstanding.

CLOSING COSTS
*The borrower will pay fees charged by certain third parties such as appraisers, credit reporting firms, and government agencies. These third party fees generally total between $225.00 and $575.00. Upon request, we will provide you with an itemization of the fees you will have to pay to third parties.

Application

To apply, please visit any of our 9 locations. The following checklist will aid you in gathering the information necessary for First National Bank to process your loan request. Please do not hesitate to contact a Loan Officer with any questions.

Home Equity Loan Checklist:

  • Three years tax returns - (if self-employed also provide business returns)
  • 2 years W-2's
  • 1 month recent pay stubs for each employed person
  • 3 months current bank statements if account is not with First National Bank

Convenient Payments

Automatic Loan Payments

You can make your monthly loan payments by having it automatically deducted from your First National Bank checking or savings account. Simply request an authorization form from one of our loan representatives.