First Financial Bank, N.A.

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Types of Loans

Whether you are buying a home or refinancing one, First Financial Bank has a variety of loan products and options for your needs:

 Conventional Fixed Rate Mortgages
 Ideal for borrowers looking for predictable monthly payments.
  • Your interest rate and monthly payment of principal and interest remain the same for the life of the loan.
  •  Minimum 5%  down payment required 
  •  At the end of the term, your loan is paid in full
  • Seller contributions are allowed. Amount depends on down payment.
  • 30, 20, 15 and 10 year terms available 
  • Investment property loans also available

Adjustable Rate Mortgages (ARM)

An option for borrowers who initially prefer a lower monthly payment and typically do not plan on owning the home more than 3–5 years.

  • Beginning interest rate is usually lower than a fixed rate loan
  • Interest rates can change periodically (usually in relation to an index)
  • Payments will adjust up or down along with interest rates
  • Several rate adjustment terms available
VA Mortgages
Loans guaranteed and administered by the Department of Veterans Affairs. Available for qualified individuals who have served in the armed forces.
  • No down payment required
  • Seller can contribute toward closing cost and pre-paid items. (Veteran can possibly have zero move in.)
  • 30 and 15 year terms available
 FHA Mortgages
These loans generally require less of a down payment and have less stringent qualification requirements than conventional loans
  • Flexible requirements to help more buyers qualify.
  • Non Occupying Co-mortgagors are allowed. (Must be immediate family
  • Seller can contribute up to 6% of sales price toward closing costs and pre-paid items.
  • FHA limits the maximum amount an individual can borrow under this program based on the location of the property. Contact us for lending limits in your area.
  • 30 year and 15 year terms available
The repayment of a debt from the proceeds of a new loan using the same property as security — usually with the goal of reducing monthly payments and/or interest paid over the life of the loan.
·         Shortening your loan term is one way to achieve interest savings — e.g., moving from a 30-year fixed to a 15-year term will typically offer you a lower interest rate, but monthly payments will be higher
Home Equity
Borrowing against a home you own to refinance an existing mortgage — and take out cash at the time of closing (maximum of 80% of appraised home value)
  • Funds are often used to pay off non-deductible debts (car loans, personal loans, credit cards, etc.)
  • Funds can also be used to finance a child's education or purchase additional real estate
 Affordable Home Loan Program   
 Designed for properties with sales price of $45,000 or less.
  •  5% down payment
  •  No down payment for low to moderate income families
  •  Must be owner occupied
  • Program available for Taylor, Callahan, and Shackelford counties
  • Seller contributions acceptable
  • 20, 15, and 10 year terms available


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