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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), a bank founded in 1925 and based in Brookings, SD. First Bank and Trust Mortgage Refinance are available in 2 states across the USA.

Key Takeaways

  • 4 different mortgage programs offered. First Bank and Trust Mortgage Refinance refinances FHA, USDA, VA, conforming, and conventional mortgages.
  • Financing for single-family and multi-family properties. However, First Bank and Trust does not offer financing for manufactured homes.
  • Considers personal use and investment properties. Refinancing 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.
  • 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.
  • Offers financing for both single and multi-family homes.
  • 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.
  • 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 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: 

  • Primary home
  • Secondary homes and vacation properties
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 5:00pm
  • Tuesday 8:00am - 5:00pm
  • Wednesday 8:00am - 5:00pm
  • Thursday 8:00am - 5:00pm
  • Friday 8:00am - 5:00pm
  • Saturday 9:00am - 12:00pm

Other Services by First Bank and Trust

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Credit Cards

2 Products

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First Bank and Trust Visa Gold Rewards Credit Card

First Bank and Trust Visa Signature Rewards Credit Card

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Personal Loans

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Private Student Loans

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CD Accounts

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Checking Accounts

4 Products

Rating not yet determined

1 Reviews

First Bank and Trust Free Checking

First Bank and Trust easyGROW Checking

First Bank and Trust Real Deal Checking

First Bank and Trust First Class Club Checking

Money Market Accounts

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Savings Accounts

3 Products

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First Bank and Trust Savings

First Bank and Trust Cache Teen Savings

First Bank and Trust Kids-N-Coins Club Savings

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Home Equity Lines of Credit

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Home Equity Loans

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Home Mortgage Loans

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Availability

  Available in 2 states
  • Minnesota
  • South Dakota

Feature Breakdown

Credit Score Range 650 - 840
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Other
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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