Buying a home or using the equity in your home for large expenses can be complex. Our experts break down the latest housing trends and tips so you can make the best choices for you and your needs.
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Lower initial interest rates offer a more manageable paymentAdjustable-rate mortgages, or ARMs, can save you money in the short term, giving you a few years to solidify your finances. First American Bank ARMs come with lower, stable interest rates for up to ten years. After that time, the rate can change semi-annually according to market conditions, in which case your monthly payments could change.
- Competitive interest rates
- Low closing costs
- Loan terms limit semi-annual and long-term interest rate increases
- Interest charges may be deductible (Consult your tax advisor)
- Schedule automatic payments with Online and Mobile Banking
- Mortgage refinancing options available
- Call an Illinois, Wisconsin or Florida First American Bank mortgage loan officer, who will explain the details of an ARM loan
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