ONLINE BANKING

CASH MANAGEMENT

Home Equity Loans

12 month introductory rate: 1.49% APR. After introductory rate expires: 3.25% APR

With a Consumer First American Bank & Trust Checking Account.3 Offer ends June 30, 2015.

Subject to credit approval. Offer limited to new home equity lines of credit only, secured by a valid first or second lien position on an owner-occupied dwelling. Mobile homes are eligible. Property insurance and appraisal will be required. Flood insurance may also be required if applicable. Please consult a tax advisor regarding deductibility of interest.

  1. Minimum of $10,000 initial draw at closing is required. Introductory annual percentage rate will not increase for the first 12 billing cycles of the new account. Introductory rate offer cannot be combined with any other pricing discounts.

  2. After the introductory period, the interest rate will vary based on Wall Street Journal Prime (as of 1/1/15 prime rate was 3.25%) plus a margin. Rates range from prime (3.25% as of 1/1/15) to prime plus 2% APR as of 1/1/15 after introductory rate. APR is based on several factors including credit history, Loan to Value (LTV), and lien status. An increase in the rate will result in higher payments. APR is subject to a minimum floor of 3.25% the maximum rate is 18%. Loan to value < 80% for home equity lines of credit greater than $40,000.

  3. If the consumer has a deposit account with First American Bank & Trust, closing costs will be paid by First American Bank & Trust. Generally, closing costs can range from $300 to $4,000. If the line is terminated within 24 months of the account agreement, an early account termination fee of third party charges not to exceed $500 paid by the bank will be charged to the customer.

Member FDIC.  Equal Housing Lender

We can plan many things in life, but sometimes we're thrown a curve. The equity in your home may unlock the cash you need. And if you have a First American Bank & Trust checking account and qualify, you can avoid closing costs, annual fees and cash advance fees. Ask about Priority Line, Priority Plus, Prime Line or American Equity Loan. We've got a solution for:

  • Consolidating debt
  • Making home improvements
  • Paying for education
  • Financing adoption
  • Taking a vacation or making large purchases

 

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