First Mid Bank & Trust Home Purchase Mortgage

Key Takeaways

• Wide selection of mortgage programs offered. First Mid Bank & Trust Home Purchase Mortgage offers FHA, USDA, VA, jumbo, conforming, and conventional mortgages.
• Financing for single-family and multi-family properties. However, First Mid Bank & Trust does not offer financing for manufactured homes.
• Standard interest rates types. First Mid Bank & Trust Home Purchase Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
• 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.
• Cosigner applications accepted. Applying for First Mid Bank & Trust Home Purchase Mortgage with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
• Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for First Mid Bank & Trust Home Purchase Mortgage.

First Mid Bank & Trust Home Purchase Mortgage Pros & Cons

First Mid Bank & Trust Home Purchase Mortgage FAQ

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

What mortgage rates does First Mid Bank & Trust offer?

Do they charge mortgage origination fees?

What mortgage programs are available?

• 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%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.
• 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 100% 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.

What property usage types does First Mid Bank & Trust Home Purchase Mortgage allow?

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

What is the customer service phone number?

What is the support contact email?