What is the maximum loan term you can get with First Bank and Trust Home Mortgage?

First Bank and Trust Home Mortgage offers mortgages with terms ranging from 5 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage programs does First Bank and Trust Home Mortgage offer?

First Bank and Trust Home Mortgage offers the following mortgage types:

• Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
• FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
• VA: 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.

What property usage types does First Bank and Trust Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. First Bank and Trust Home Mortgage allows the following property usage types: 

• Primary home
• Secondary homes and vacation properties
• Investment properties and house flipping projects