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Buying a Home

Get mortgage estimates, plan your budget and more.

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a young couple and their dog on the couch. [First Bank Webinar] Homebuyer Happy Hour March 2025 Event Details: Date: Thursday, March 13, 2025 Time: 6:30 pm to 7:30 pm Location: Zoom Webinar (link provided upon registration) What to Expect: Our First Bank mortgage experts will share information about understanding budgeting and credit to help you on your journey to homeownership. Topics covered include: Budgeting basics: how to set your budget, unexpected expenses to look out for Credit expectations: what mortgage lenders look for Building credit: credit factors, tips to improve your credit score Meet our First Bank Experts: Jarrod Burcham | Mortgage Loan Originator | Greensboro, NC Jarrod pledges professional service and personal attention while finding the right mortgage that fits your needs. Whether you are looking to purchase your first home, build your next, refinance your current home, buy an investment property or purchase a vacation rental, Jarrod will guide you through the home loan process.   Monica Moses | Community Mortgage Officer | Apex, NC As Community Mortgage Officer, Monica serves as a liaison for the mortgage loan originators regarding community outreach in underserved markets. One of her focuses is educating potential homeowners by participating in homebuyer workshops in low to moderate income areas. Monica’s role allows First Bank to build connections with minority realtors and builders while enhancing the visibility of our organization. Register for Homebuyer Happy Hour: Our knowledgeable panel shared their experiences and provided actionable insights during our Homebuyer Happy Hour to help you make informed decisions about homebuying. We will be posting the Q&As from the session to view on our website soon so you won’t miss any valuable expert insights. Keep an eye on our website for updates, and feel free to reach out to one of our loan officers if you have any mortgage questions. 2 min read
Where to Get 15-Year Mortgage Rates If you’re ready to buy a home, you’re probably wondering where to get 15-year mortgage rates, or you may just be wondering what a mortgage is. First Bank will go over your options with you and help you determine what type of home loan is best, whether that be a 15-year mortgage, or a 3/3 adjustable rate mortgage. Types of Loans at First Bank Before we tell you how and where to get 15-year mortgage rates, we’ll go over some of First Bank’s mortgage options. We offer: Conventional loans Jumbo loans Government loans VA loans Construction loans Dream It, Own It If you are a first time home buyer, you’re probably looking for a conventional loan. We offer two types of conventional loans: fixed-rate and adjustable-rate. Adjustable-Rate Mortgages vs. Fixed-Rate Mortgages Conventional adjustable-rate mortgages (ARMs) have interest rates that will change periodically depending on shifts in a corresponding financial index that’s associated with the loan. This basically means that your rate will change, causing your monthly payment to increase or decrease. ARMs can be beneficial for some home buyers because they typically have lower initial interest rates than fixed-mortgages, and they provide homeowners flexibility. Conventional fixed-rate mortgages offer a more straightforward approach to home buying. With a fixed-rate mortgage, your monthly interest rate never changes, making it easier for you to set a monthly budget. A lot of people prefer fixed-rate mortgages because they offer protection from rising interest rates for the life of the loan. Secure a Mortgage with First Bank We hope you feel a little more prepared to take on a mortgage and buy the house of your dreams. If you’re ready to apply for a mortgage loan*, visit your local First Bank, or contact our mortgage loan experts. *Loans subject to credit approval. ———— Sources: Investopedia: http://www.investopedia.com/terms/a/arm.asp 2 min read
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