Mortgages
There's more than one way to finance a home
$500 Off Closing Costs1
For a new home purchase or refinance when you sign up for automatic loan payments and eStatements. Offer ends June 30, 2023.
Choose a home loan that fits your budget and lifestyle
The traditional fixed-rate mortgage is still a good bet for many families. But consumers now have a lot more options. First American Bank offers loans with shorter terms, lower initial interest rates, and specific benefits for first-time homebuyers in need of FHA loans or military service members and veterans.Find a Mortgage Loan Officer
Mortgage Options
- Predictable payments make monthly budgeting a breeze
- Low closing costs
- Lower initial interest rates keep a lid on monthly payments
- Low closing costs
- Borrow beyond the conventional limit of $726,200
- 15- and 30-year options available*
- Low down payment options
- Flexible credit guidelines
- Little to no down payment required
- No bank origination fees
To show our gratitude and give back to those who serve our community, First American Bank is proud to offer our Home Loans for Heroes program. If you’re looking to purchase a home, eligible heroes will receive a credit to use toward closing costs.
[Office setting. Rimmy Dunlop is sitting behind his desk, with a couple, Matt and Gaby, sitting across from him]
Rimmy Dunlop: Hi. I'm Rimmy Dunlop, a loan officer here at First American Bank, and today we're talking with Gaby and Matt about what they might expect as new home buyers and how they go through the process of getting a mortgage.
Matt: Gaby and I are ready to buy our first home and we don’t know where to start. We really want to know what to expect, what we need to do, and how to go about getting a mortgage.
Rimmy: At first the process can seem intimidating, but at First American Bank we'll guide you through the process and be with you every step of the way.
Gaby: What do we do to start?
Rimmy: When looking to buy a home, you may want to start by getting pre-approved for a mortgage.
[On screen text: Get pre-approved with a First American Bank lender]
Rimmy: Getting pre-approved simply means that you have applied for a mortgage with First American Bank, and we have determined that you qualify. We look at your past credit history, we review your savings to make sure you have a down payment, and we evaluate your income to make sure you can afford the house. Next, we will recommend the best mortgage product for your situation.
Matt: So assuming we qualify and we are pre-approved, what are our next steps?
Rimmy: This is the fun part. Once we know how much you are qualified to borrow, it is time to go shopping.
[On screen text: Find a Realtor.]
Rimmy: Find a good realtor that knows the neighborhood and then, find the house of your dreams. We will give your realtor a copy of the pre-approval letter, so she knows you are pre-approved. When you find the right house, you and your realtor are going to make an offer to buy the house.
[On screen text: Make an offer to purchase a home.]
Rimmy: When your offer is accepted, you should order an inspection.
[On screen text: Get an inspection.]
Rimmy: An inspection will tell you all about the house- is it well built? How are the appliances? How about the roof? If anything needs to be fixed, the inspector will tell you and you can then work with the seller to make sure all work is done before you close on the house. This is also when you will submit your updated income and asset documentation.
[On screen text: Submit updated income and asset documentation]
Rimmy: Depending on your line of work and other variables, we are going to ask for items such as pay stubs, tax returns, W2's and bank statements. We will have an appraisal ordered to verify the value of the house.
[On screen text: First American Bank will appraise the house.]
Rimmy: We will also work with the seller to make sure the title to the house is clear.
Gaby: OK. So who does that and who pays for it?
Rimmy: We work with several licensed appraisers and title companies and will arrange it. The seller traditionally pays for the title work and you, as the buyer will pay for the appraisal at closing. Once we verify your income and assets, review the appraisal and your mortgage is approved, you’re in the home stretch. We will work closely with you, your real estate agent, and the seller to set up a closing date.
[On screen text: Set up closing.]
Rimmy: At closing, you will bring your down payment, sign mortgage documents, and receive the keys, congratulations you'll be a new homeowner!
Matt & Gaby: Thank you, First American Bank.
[First American Bank Logo]
[First American Bank tagline “We do more for your money!”]
[Copyright 2018 First American Bank – Member FDIC – Equal Housing Lender logo]
Disclosures
Subject to credit approval. Standard rates apply. Title fees, as part of the closing costs, will vary by county. Please see a banker for details. 1$500 off your closing costs valid on first mortgage applications (including prequalifications) received between 5/1/23-6/30/23. Loan must close by 10/31/23. Only available on 1-4 family home. Only applies to Conventional, Jumbo, FHA, USDA, or VA loans. Not available for collateral properties located in Texas, Alaska, or Hawaii. Prior to closing you must set up an Automatic Funds Transfer (AFT) or Automatic Clearing House (ACH) to make the monthly payment on your loan, and within the first statement cycle you must elect electronic statements (requirement only applies to Conventional and Jumbo loans). Closing costs include only those fees and charges required by First American Bank as a condition of obtaining a loan. Title fees, as part of the closing costs, will vary by county. May not be combined with other promotions. Please see a banker for details.
*For additional product terms and conditions, please click here.
The routing number for Health and Benefits Accounts (HSA, FSA, HRA, QTA) is 067015928.
