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Home Equity Loans
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Last Updated: 04/18/2025

First Bank and Trust Home Equity Loan

in Home Equity Loans from First Bank and Trust

Last Updated: 04/18/2025

First Bank and Trust Home Equity Loan logo
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Credit Score Range

650 - 840

Amount Range

N/A

Maximum LTV

N/A

Loan Term (Years)

N/A
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First Bank and Trust Home Equity Loan Review

First Bank and Trust Home Equity Loan is offered by First Bank and Trust (NMLS #409296), a bank founded in 1925 and based in Brookings, SD. First Bank and Trust Home Equity Loan are available in 2 states.

Key Takeaways

  • Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Fair credit accepted. Borrowers with a credit score as low as 650 may qualify for First Bank and Trust Home Equity Loan.

First Bank and Trust Home Equity Loan Pros & Cons

First Bank and Trust Home Equity Loan FAQ

Typically, borrowers with good credit can qualify for up to 85 percent of the value of the property less the balance on their first mortgage.
Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does First Bank and Trust Home Equity Loan charge for a home equity loan?

First Bank and Trust Home Equity Loan may charge a loan origination fee

What types of property can you use as security for a home equity loan with First Bank and Trust Home Equity Loan?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. First Bank and Trust Home Equity Loan will consider loans secured by the following property types:
  • Primary home.
  • Secondary homes and vacation properties.
  • Investment properties and house flipping projects.

Is First Bank and Trust a legit company?

First Bank and Trust was founded in 1925, it is a well-established company that has been in business for 101 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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First Bank and Trust Home Equity Loan logo

Message from First Bank and Trust Home Equity Loan

Navigating the home-buying process doesn’t have to be hard. Our knowledgeable loan officers walk you through your mortgage options, ensuring you’re making the right decision. With expertise in the local market, you can confidently buy your new home with no surprises.

A home equity loan or line of credit allows you to use the equity you’ve built up in your home as collateral. The equity is the difference between the current value of the home and your current mortgage balance. Sometimes called a "second mortgage", a home equity loan typically has a shorter term. Advance what you need, when you need it. Low variable rate. Interest-only monthly payments based on approval. Easy access via check, Digital Banking, or by contacting the bank.

Contact

Headquarters

520 6th Street
Brookings, SD 57006
Visit Site
Email Support

Hours of Operation

Sunday
Closed
Monday
8:00AM - 5:00PM
Tuesday
8:00AM - 5:00PM
Wednesday
8:00AM - 5:00PM
Thursday
8:00AM - 5:00PM
Friday
8:00AM - 5:00PM
Saturday
9:00AM - 12:00PM

Other Services by First Bank and Trust