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  First Security Bank Home Mortgage

First Security Bank Home Mortgage

in Home Purchase Mortgages from First Security Bank

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First Security Bank Home Mortgage

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in Home Purchase Mortgages from First Security Bank

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Highlights
Loan Amount N/A
Loan Term (Years) N/A
Credit Score Range 650 - 840

First Security Bank Home Mortgage Review

First Security Bank Home Mortgage is offered by First Security Bank, a bank founded in 1932 and based in Searcy, AR. First Security Bank Home Mortgage is available in 1 state across the USA.

Key Takeaways
  • Only two mortgage programs offered. First Security Bank Home Mortgage provides FHA 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 Security Bank Home Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
  • 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 Security Bank Home Mortgage.
First Security Bank Home Mortgage Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 1 state.
First Security Bank Home Mortgage FAQ

What mortgage rates does First Security Bank 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 Security Bank Home Mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, First Security Bank Home Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, First Security Bank Home Mortgage offers the following mortgage types:

  • 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%.

What property usage types does First Security Bank Home Mortgage allow?

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

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

Availability

  Available in 1 state
Arkansas
Availabile in all of Arkansas

Feature Breakdown

Credit Score Range 650 - 840
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
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
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
Investment
Primary Residence
Mortgage Features No-Closing-Costs Option
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA

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