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Line of Credit Special for Florida

Money when you need it

A Home Equity Line of Credit from First American Bank allows you to borrow funds on an as-needed basis. Our low rates make it convenient and easy to finance major expenses such as remodeling your home, consolidating debt, purchasing an auto, paying for college and more!

First American Bank continues to have the best loan deals in town. And here’s why:

  • No application fees  
  • Up to $2,500 closing cost credit*  
  • Conditional approval in 48 hours 
  • Low monthly payments 
  • Potential tax advantages

Take advantage of this special introductory variable rate for 12 months at
PRIME MINUS 0.50%. After that, variable rates as low as 4.25% APR.
Hurry, offer ends May 31, 2017!

Visit our Coral Gables location at 2295 Galiano Street
or speak with a banker (305) 500-9501.
Apply Now

Offer valid 5/1/17-5/31/17. Loan must close by 7/31/17. Available only to new Home Equity Line of Credit (HELOC) customers and current HELOC customers whose loan matures within one year from the date of application. Available only on collateral properties located in Broward, Collier, Miami-Dade, Monroe and Palm Beach counties in Florida. Not available for investment properties. 80% loan-to-value (75% for condos), or less on HELOCs of $500,000 or less with a first lien of $1,000,000 or less. 75% loan-to-value (70% for condos), or less on HELOCs over $500,000 and/or with a first lien over $1,000,000. Prime – 0.50% during the twelve-month introductory period. Thereafter, the Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate published in the Money Rates section of The Wall Street Journal on the first business day of each month. Based on the 5/1/17 Prime Rate of 4.00%, the following rates would apply: 3.50% during the twelve-month introductory period. Thereafter, 4.25% APR for HELOC $100,000 or more; 4.49% APR for HELOC $50,000 to $99,999; 4.74% APR for HELOC $25,000 to $49,999; and 5.99% APR for HELOC $5,001 to $24,999. Rates subject to change at any time. The maximum APR is 18%. Monthly payments of interest only will result in a balloon payment. No annual fee for the first year - $60 annual fee thereafter. Costs to satisfy certain prior liens may be assessed. Property insurance and wind insurance are required. Flood hazard insurance may be required. Some restrictions may apply. Offer is subject to normal credit qualifications. Consult your tax advisor regarding the deductibility of interest.

LIMITED CLOSING COST OPTION: Third Party Fees and Charges ranging from $625 to $3,100 may be assessed on HELOCs under $250,000 at closing. Regardless of the HELOC amount, if at the time of closing you set up an Automatic Funds Transfer (AFT) or Automatic Clearing House (ACH) to make the monthly payment on your HELOC, we will pay up to $2,500 of the fees and charges associated with closing on your HELOC, including, but not limited to, appraisal, title, flood, stamp & tax and recording fees (Third Party Fees and Charges). If at any time during the term of your HELOC you fail to maintain the AFT or ACH, you agree to repay the Third Party Fees and Charges that we previously paid which will be added to the outstanding balance of your HELOC. If at the time of closing you do not set up an AFT or ACH to make the monthly payment on your HELOC, then you agree to pay the Third Party Fees and Charges at closing.

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