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  First Bank and Trust Company Mortgage Loan

First Bank and Trust Company Mortgage Loan

in Home Purchase Mortgages from First Bank & Trust Company

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First Bank and Trust Company Mortgage Loan

Unaffiliated

in Home Purchase Mortgages from First Bank & Trust Company

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First Bank and Trust Company Mortgage Loan Review

First Bank and Trust Company Mortgage Loan is offered by First Bank & Trust Company, a bank founded in 1979 and based in Abingdon, VA. First Bank and Trust Company Mortgage Loan is available in 2 states across the USA.

Key Takeaways
  • 4 different mortgage programs offered. First Bank and Trust Company Mortgage Loan offers FHA, USDA, VA, conforming, and conventional mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. First Bank and Trust Company Mortgage Loan offers adjustable-rate mortgages and fixed-rate mortgages.
  • Only primary residences considered. First Bank and Trust Company Mortgage Loan does not offer financing for vacation homes or investment properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for First Bank and Trust Company Mortgage Loan.
First Bank and Trust Company Mortgage Loan Pros & Cons
Pros Cons
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 2 states.
First Bank and Trust Company Mortgage Loan FAQ

What mortgage rates does First Bank & Trust Company offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does First Bank and Trust Company Mortgage Loan charge an application fee?

Do they charge mortgage origination fees?

Yes, First Bank and Trust Company Mortgage Loan may charge a loan origination fee.

What mortgage programs are available?

First Bank and Trust Company Mortgage Loan offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   711 West Main Street
    Abingdon, VA 24210
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 5:00pm
  • Tuesday 8:30am - 5:00pm
  • Wednesday 8:30am - 5:00pm
  • Thursday 8:30am - 5:00pm
  • Friday 8:30am - 6:00pm
  • Saturday 8:30am - 1:00pm

Other Services by First Bank & Trust Company

Availability

  Available in 2 states
  • Tennessee
  • Virginia

Feature Breakdown

Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
Minimum Age 18
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Proof of Insurance
  • Government Issued Photo ID
  • Social Security Number
  • Driver License (or other photo ID)
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • USDA
  • VA
  • Conventional Mortgages

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