Consumer Loans

Lines Of Credit

Loan Term
120 months
Effective Date
4/1/2015
Line Amount
$5,001 To $24,999
Annual Percentage Rate
4.74%
Terms and Conditions
The Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate published in the Money Rates section of The Wall Street Journal on the first business day of the month. Rates subject to change at any time. The maximum APR is 18%. Monthly payments of interest only will result in a balloon payment. No annual fee for the first year - $50 annual fee thereafter. Costs to satisfy certain prior liens may be assessed. Property insurance is required; flood hazard insurance may be required. Third-party fees and charges ranging from $350 to $380 may be assessed at closing. If at the time of closing you set up an Automatic Funds Transfer (“AFT”) or Automatic Clearing House (“ACH”) to make the monthly payment on your Credit Line Account, then First American Bank will pay the fees previously disclosed to you associated with closing on your Credit Line Account, including, but not limited to, appraisal, title, flood, credit report and recording fees (the “Third Party Fees and Charges”). If at any time during the term of your Credit Line Agreement you fail to maintain the AFT or ACH, then you agree to pay the Third Party Fees and Charges which will be added to the outstanding balance of your Credit Line Account. If at the time of closing you do not setup an AFT or ACH to make the monthly payment on your Credit Line Account, or if the loan is a purchase money transaction, or secured by a Non Owner Occupied Residences, then you will pay the Third Party Fees and Charges at closing.
Equal Housing Lender
Member FDIC