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  First Mid Bank & Trust Home Refinancing
First Mid Bank & Trust Home Refinancing
in Mortgage Refinance from First Mid Bank & Trust · NMLS ID #411170
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First Mid Bank & Trust Home Refinancing

Unaffiliated
in Mortgage Refinance from First Mid Bank & Trust · NMLS ID #411170
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First Mid Bank & Trust Home Refinancing Review

First Mid Bank & Trust Home Refinancing is offered by First Mid Bank & Trust (NMLS #411170), a bank founded in 1934 and based in Mattoon, IL. First Mid Bank & Trust Home Refinancing are available in 2 states across the USA.

Key Takeaways

  • 5 different mortgage programs offered. First Mid Bank & Trust Home Refinancing refinances 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 Refinancing offers adjustable-rate mortgages and fixed-rate mortgages.
  • 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 580 may qualify for First Mid Bank & Trust Home Refinancing.

First Mid Bank & Trust Home Refinancing 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 Mid Bank & Trust Home Refinancing FAQ

How long does First Mid Bank & Trust Home Refinancing take to refinance?

First Mid Bank & Trust Home Refinancing 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 Mid Bank & Trust Home Refinancing charge a mortgage origination fee?

Yes, First Mid Bank & Trust Home Refinancing will charge a loan origination fee.

What mortgage programs does First Mid Bank & Trust Home Refinancing offer?

First Mid Bank & Trust Home Refinancing 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%.
  • Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
  • 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 Mid Bank & Trust Home Refinancing allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 4:00pm
  • Tuesday 9:00am - 4:00pm
  • Wednesday 9:00am - 4:00pm
  • Thursday 9:00am - 4:00pm
  • Friday 9:00am - 5:00pm
  • Saturday 9:00am - 12:00pm

Other Services by First Mid Bank & Trust

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CD Accounts

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Checking Accounts

6 Products

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First Mid Bank & Trust Premier Checking

First Mid Bank & Trust Classic Checking

First Mid Bank & Trust Interest Checking

First Mid Bank & Trust Basic Checking

First Mid Bank & Trust Basic Student Checking

First Mid Bank & Trust Start New Checking

Money Market Accounts

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Savings Accounts

4 Products

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First Mid Bank & Trust Christmas Club Savings

First Mid Bank & Trust Summer Savings

First Mid Bank & Trust Kids First Savings

First Mid Bank & Trust Retail 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
  • Illinois
  • Missouri

Feature Breakdown

Credit Score Range 580 - 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
  • Proof of Identity
  • Proof of Residence
  • Proof of Insurance
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • USDA
  • VA
  • Jumbo

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