Last Updated: 04/18/2025
First Bank and Trust of New Orleans Home Equity Loan
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Last Updated: 04/18/2025
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Highlights
Credit Score Range
580 - 840
Amount Range
$15,000 - $250,000
Maximum LTV
N/A
Loan Term (Years)
N/A
First Bank and Trust of New Orleans Home Equity Loan Review
First Bank and Trust of New Orleans Home Equity Loan is offered by First Bank and Trust of New Orleans (NMLS #525613), a bank founded in 1991 and based in New Orleans, LA. First Bank and Trust of New Orleans Home Equity Loan are available in 3 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.
- Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
- Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for First Bank and Trust of New Orleans Home Equity Loan.
First Bank and Trust of New Orleans Home Equity Loan Pros & Cons
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First Bank and Trust of New Orleans Home Equity Loan FAQ
How much can you borrow with a First Bank and Trust of New Orleans Home Equity Loan home equity loan?
A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.
First Bank and Trust of New Orleans Home Equity Loan allows borrowers to apply for home equity loans of up to $250,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
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 of New Orleans Home Equity Loan charge for a home equity loan?
First Bank and Trust of New Orleans Home Equity Loan may charge a loan origination fee of 1% of the loan amount.
What types of property can you use as security for a home equity loan with First Bank and Trust of New Orleans 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 of New Orleans 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 of New Orleans a legit company?
First Bank and Trust of New Orleans was founded in 1991, it is a well-established company that has been in business for 35 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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Message from First Bank and Trust of New Orleans Home Equity Loan
Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 4:00PM
Saturday
Closed