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  First Bank and Trust Mortgage Refinance
First Bank and Trust Mortgage Refinance
in Mortgage Refinance from First Bank and Trust · NMLS ID #409296
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First Bank and Trust Mortgage Refinance

Unaffiliated
in Mortgage Refinance from First Bank and Trust · NMLS ID #409296
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First Bank and Trust Mortgage Refinance Review

First Bank and Trust Mortgage Refinance is offered by First Bank and Trust (NMLS #409296), founded in 1925 and based in Brookings, SD. First Bank and Trust Mortgage Refinance is available in 2 states across the USA.

Key Takeaways
  • 4 different mortgage programs offered. First Bank and Trust Mortgage Refinance refinances and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Only primary residences considered. First Bank and Trust Mortgage Refinance does not offer refinancing 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.
  • Fair credit accepted. Borrowers with a credit score as low as 650 may qualify for First Bank and Trust Mortgage Refinance.
First Bank and Trust Mortgage Refinance Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 2 states.
First Bank and Trust Mortgage Refinance FAQ

How long does First Bank and Trust Mortgage Refinance take to refinance?

First Bank and Trust Mortgage Refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.

Does First Bank and Trust Mortgage Refinance charge a mortgage origination fee?

Yes, First Bank and Trust Mortgage Refinance will charge a loan origination fee.

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

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

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.

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

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

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Availability

  Available in 2 states
  • Minnesota
  • South Dakota

Feature Breakdown

Credit Score Range 650 - 840
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Recent Pay Stubs
  • Proof of Income
  • Loan Payoff Statements
  • Proof of Identity
  • Proof of Residence
  • Proof of Insurance
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
Mortgage Programs
  • FHA
  • USDA
  • VA

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