First National Bank in Staunton offers loans for many purposes. We pride ourselves in offering competitive rates, quick loan approval and terms to meet your budget.
Experienced loan officers are available Monday through Saturday to help you with your lending needs.
Fixed Rate
A mortgage loan that gives you the assurance that you will pay the same principal & interest payment at a fixed interest rate throughout the term of your loan. We'll help you lock in the competitive term and rate you're looking for. A fixed-rate mortgage lets you take advantage of the same rate for years - even as interest rates change in the future.
Today's Fixed Rates or Apply Online
Balloon
If you're looking to lock into a competitive rate, but for a shorter term, a Balloon Loan will give you the flexibility you need. With a Balloon Loan, you'll have the opportunity in the future to possibly lock in a fixed rate or renew the loan for another short term- possibly at an even lower rate. Balloon Loans may give you a chance to improve the interest rate you pay periodically compared to long-term fixed rates - for up to five years.
| Mortgage |
Term |
Interest Rate |
APR |
Monthly Payment |
| |
|
|
|
|
| Balloon |
1-year (11 payments **)
3-year (35 payments **)
5-year (59 payments **) |
3.750%
4.000%
4.250% |
4.067%
4.149%
4.371% |
$466.17
$480.73
$495.51 |
** Remaining balance subject to renewal
BALLOON RATES IN EFFECT 12-26-2012. SUBJECT TO CHANGE WITHOUT NOTICE.
CALL FOR CURRENT RATES. Payments do not include amounts for taxes and insurance premiums, the actual payment obligation will be greater.
- 20% Down payment
- Low closing costs
- 30-year Amortization (Balloon Loans)
- NO Points - Payment based on a $100,00 borrowed amount with 80% LTV. APR is based on an indicator score greater than or equal to 740.
Junior Mortgages
| Type |
Term |
Interest Rate |
APR |
Monthly Payment |
Balloon
Single Advance
Total LTV < 80% |
1-year (11 payments **)
3-year (35 payments **)
5-year (59 payments **) |
4.000%
4.250%
4.500% |
4.485%
4.463%
4.665% |
$91.35
$93.37
$95.42 |
Balloon
Single Advance
Total LTV
81% - 90% |
1-year (11 payments **)
3-year (35 payments **)
5-year (59 payments **) |
4.500%
4.750%
5.000% |
4.992%
4.971%
5.173% |
$95.42
$97.49
$99.58 |
Low Closing Cost
**Remaining balance subject to renewal
20-year amortization Up to 90% Total Loan to Value. Rates based on first mortgage also financed with FNB.
NO Points - APR and Payment based on a $15,000 borrowed amount with an indicator score greater than or equal to 740. No PMI applies. Payments do not include amounts for taxes and insurance premiums, the actual payment obligation will be greater.
USDA (US Department of Agriculture)
30 Year Fixed
3.750% Rate 4.277% APR
Based on $100,000 purchase price, $102,040 loan amount, 360 monthly payments of $497.86. Payments do not include amounts for taxes and insurance premiums, the actual payment obligation will be greater.
RATE IN EFFECT 05-24-2013. SUBJECT TO CHANGE WITHOUT NOTICE.
CALL FOR CURRENT RATES.
- No down payment required
- Fixed rate
- Based on household income and property eligibility
FHA (Federal Housing Administration)
Only 3.5% down, fixed rates
VA (Veterans Administration)
No down payment required
Fixed rates
Available to those veterans who are eligible
NO PMI!
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Loan Calculator
Application
To apply online, please click here. After you have submitted your application 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.
Purchase of a Home 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
- Sales contract with original signatures of buyers and sellers
- Real estate company agent’s name, address, and phone number
- If sale is between individuals (no realtor), copy of previous title policy
- Estimate on annual taxes
- Estimate on homeowner’s insurance
Refinance of a Home 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
- Copy of most recent real estate tax bill
- Current homeowner’s insurance policy
- Copy of existing title insurance policy
- Statement from current mortgage holder – showing their name, address, phone number, your account number
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