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%
  • No closing costs* for the borrower if they establish an ACH or AFT for the monthly payments.

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

Terms and Conditions: Applies to owner occupied residence only- 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 the month. 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 is required. Flood hazard insurance may be required. Subject to credit approval.

*NO CLOSING COST OPTION: Third party fees and charges ranging from $350 to $1,000 may be assessed at closing. 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 the fees and charges associated with closing on your HELOC, including, but not limited to, appraisal, title, flood 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. [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
  • No closing costs** for the borrower if they establish an ACH or AFT for the monthly payments.

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 

Terms and Conditions: Applies to owner occupied residence only- Rates subject to change without notice. Loan to Value must be less than or equal to 85%. Consult your tax advisor regarding tax deductible status of your loan. Repayment on 24 month term equals 24 monthly payments of $43.98 per $1,000 borrowed. For loans secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater. Subject to credit approval.

**NO CLOSING COST OPTION: 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 loan, we will pay the fees and charges associated with closing on your loan, including, but not limited to, appraisal, title, flood and recording fees (Third Party Fees and Charges). If at any time during the term of your loan 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 loan. If at the time of closing you do not setup an AFT or ACH to make the monthly payment on your loan, then you agree to pay the Third Party Fees and Charges at closing. [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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