Available Products

We realize that people have different needs and requirements when it comes to lending needs. That's why First American gives you the flexibility to choose from:

Home Equity Lines of Credit

  • Term: 10 years
  • Current rates
  • Variable rate - Interest only payments
  • To be used for a purchase, refinance or stand-alone
  • Loans over $100,000 will be considered on a case-by-case basis
  • $60 annual fee, the first year is waived
  • Lifetime cap of 18%
  • For non-agency closings, no closing costs for the borrower if they establish an ACH or AFT for the monthly payments.
  • Customer pays all costs for agency closing transactions, including any fee the title company charges for the second mortgage closing.

Underwriting Guidelines:

  • Credit Score Guidelines (Equifax): Minimum credit score of 660, we use the higher credit score if there are multiple borrowers.  Borrowers must have a minimum of two active tradelines, each having a reporting history of at least 2 years.
  • Maximum LTV: 80% (Max LTV for a condo is 75%)
  • Maximum DI: 45% - If the DI is greater then 40%, the max LTV is 75%
  • Calculate FAB payment as 1.00% of the line limit
  • All properties must be owner occupied and 1-4 units
  • Any submitted appraisal will be sent to be reviewed and approved by a FAB appraiser [top]

Fixed Rate Home Equity Loans

  • Term: 2 - 10 years fully amortized; or 10 year balloon with payments amortized over 15 or 20 years
  • Current rates
  • To be used for a purchase, refinance or stand alone
  • Loans over $100,000 will be considered on a case-by-case basis
  • For non-agency closings, no closing costs for the borrower if they establish an ACH or AFT for the monthly payments.
  • Customer pays all costs for agency closing transactions, including any fee the title company charges for the second mortgage closing.

Underwriting Guidelines:

  • Credit Score Guidelines (Equifax): Minimum credit score of 660, we use the higher credit score if there are multiple borrowers. Borrowers must have a minimum of two active tradelines, each having a reporting history of at least 2 years.
  • Maximum LTV: 85% (Max LTV for a condo is 75%)
  • Maximum DI: 45% - If the DI is greater then 40%, the max LTV is 75%
  • All properties must be owner occupied and 1-4 units
  • Any submitted appraisal will be sent to be reviewed and approved by a FAB appraiser [top]

Bridge Loans

  • Maximum term: 6 months
  • No maximum loan size
  • Borrower pays all costs
  • Interest only monthly payments

1st Lien Position:

  • Rate: Prime +1.00% fixed
  • 1.0 points apply (minimum $1,500)
  • Maximum LTV: 80%

2nd Lien Position:

  • Rate: Prime +2.50% fixed
  • 1.5 points apply (minimum $1,500)
  • Maximum LTV: 75%

Underwriting Guidelines:

  • Credit Score Guidelines (Equifax): Minimum credit score of 660, we use the higher credit score if there are multiple borrowers. Borrowers must have a minimum of two active tradelines, each having a reporting history of at least 2 years. [top]

Construction Loans

  • Maximum term: 12 months
  • Rate: Prime +1.00% fixed
  • Interest only monthly payments
  • No maximum loan size
  • 0.5 points apply (minimum $1,500)
  • Borrower pays all costs. Fees charged to the borrower as a result of points, inspection fees and escrow payout fees are inclusive in the APR. Title insurance, recording fees, appraisal fees and release fees are not APR effective.

Underwriting Guidelines:

  • Credit Score Guidelines (Equifax): Minimum credit score of 660, we use the higher credit score if there are multiple borrowers. Borrowers must have a minimum of two active tradelines, each having a reporting history of at least 2 years.
  • Maximum LTV: 80% of the total appraised value per plans and specifications on residence and/or first mortgage on construction project.
  • Construction must be done through a general contractor and a construction escrow will be established with a title company.
  • The general contractor’s statement, construction plans and specifications must be reviewed prior to approval. Payout inspections must be completed by a bank approved inspector. [top]

Standard Auto Loans

  • FAB will pay $200 for an auto loan application, with a minimum loan amount of $10,000, that closes and funds
  • Term: 2-6 years
  • Current rates
  • Maximum loan amount is 85% of invoice price for a new car (inclusive of taxes, extended warranties and document fees with dealer invoice used as a reference) and < 75% of NADA retail value for a used car.
  • $95 title lien registration fee may apply

Underwriting Guidelines:

  • Credit Score Guidelines (Equifax): Minimum credit score of 660, we use the higher credit score if there are multiple borrowers. Borrowers must have a minimum of two active tradelines, each having a reporting history of at least 2 years.
  • Maximum DI: 45% [top]

Carmax Auto Loans

  • FAB will pay $200 for an auto loan application, with a minimum loan amount of $10,000, that closes and funds.
  • Term: 2-6 years
  • Current rates
  • Maximum loan amount is 100% of invoice price for a new car (inclusive of taxes, extended warranties and document fees with dealer invoice used as a reference) and up to 100% of NADA retail value for a used car.
  • $95 title lien registration fee may apply

Underwriting Guidelines:

  • Credit Score Guidelines (Equifax): Minimum credit score of 675, we use the higher credit score if there are multiple borrowers. Borrowers must have a minimum of two active tradelines, each having a reporting history of at least 2 years.
  • Maximum DI: 40% [top]
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