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Five Reasons to Refinance Your Mortgage Banking professionals suggest mortgage refinancing when homeowners want to replace their current loan with a new one, often to reduce monthly payments or lower interest rates. With a mortgage refinance, your current loan is paid off and replaced with a new one. This can be a great option for borrowers with good credit who want to alter their current loan. But refinancing could be risky for borrowers with less than perfect credit. Check out our list of reasons to refinance and see if you could benefit from refinancing your current mortgage. 5 Reasons to Refinance Lower interest rates—If mortgage rates have dropped since you first took out your loan, you could secure a lower rate by refinancing. Lower monthly payment—Lowering your interest rate could have a dramatic impact on your monthly payment. If you intend on staying in your home for several years, lowering your payment could help you save. Shorten loan term—When interest rates fall, homeowners can often significantly shorten their loan term by refinancing without much increase in their monthly payment. Convert between adjustable-rate and fixed-rate—With adjustable-rate mortgages, your initial interest rate may be low and and then increase over a period of time. Refinancing to a fixed-rate mortgage could allow you to avoid an increase in rate. Cash out to make a large purchase—If you have equity in your home, refinancing enables you to cash out on that equity without taking out a loan, such as a home equity loan. A lot of people will use this cash to pay for home repairs, college tuition, or make a large purchase, such as a car. These types of refinances are typically easy to complete and may even be tax deductible. If you still aren’t sure if a mortgage refinance is right for you, visit our online refinance calculator to see how much you could save, or visit your local First Bank branch to speak with a mortgage specialist. Loans subject to credit approval. ——— Sources: https://www.investopedia.com/mortgage/refinance/when-and-when-not-to-refinance-mortgage/ 2 min read

The Numbers in Pet Ownership Considering a friend of the four-legged variety? You may want to consider these facts and figures before you commit. 2 min read

Saving for College – North Carolina Paying for college begins well before your child ever sets foot on campus. Saving for college from day one is an effective way of combating the rising costs of today’s colleges and universities. There are nearly 200 colleges in North Carolina and with our numerous branch locations, First Bank helps students from across the state afford a college education. Save for College with First Bank First Bank offers several options for college saving for children in North Carolina. MyFirst Savings is a savings account for children under the age of 18. Set up the account when your child is young and begin funding it. You can deposit birthday money from relatives, inheritances or money your child earns from working a job in high school. The account earns interest on any balance so you’ll begin growing your money from day one. Everywhere Savings is a basic savings account that begins earning interest with any balance. Campus Checking is a convenient account for students heading into or already attending college, with no monthly fees*. Secured Card allows your student to start to safely build a credit history before going or while away at school. Our HELOC leverages the equity you have in your home for large purchases and can even be used for college tuition. Getting an early start is the key to saving up for college but it’s never too late to start. If you begin contributing to a savings account now, your child could have the necessary funds to get them through college. Student loan debt can be a long-term burden for you or your new college graduate. Begin building a bridge to your child’s future today with a savings account from a North Carolina First Bank. *Account holders may avoid the Monthly Maintenance Fee by meeting any of the requirements listed in the Keep it Fee FreeTM section of the account summary table for their account type. Other account service fees may apply as described in the Account Services Fee Schedule available on our website at fees or at your local branch. Federal regulations limit withdrawals or preauthorized transfers to six (6) per month, including checks, drafts, online transfers, telephone transfers and debit card purchases. You may conduct an unlimited number of 3 min read

Best Savings Account – North Carolina Finding some of the best savings account in North Carolina may seem like a difficult task. After all, there are hundreds of North Carolina banks offering savings accounts. How do you go about determining which account is right for you? Savings Account Options with First Bank Finding the best savings account in North Carolina that meets your unique needs is easy with First Bank. Our account options include: 1. Everywhere Savings — Our most basic account designed to meet the saving needs of anyone. It includes: 2 free withdrawals per month* No minimum balance to earn interest Free online and mobile banking** 2. MyFirst Savings — An account designed to teach children and teens under 18 the value of saving. It includes features like: 2 free withdrawals per month* No minimal balance to earn interest Free online and mobile banking** Only $10 required to open account 3. Money Market — For customers who want to earn interest at a higher rate while still having access to their funds. This account includes: 6 free withdrawals per month* Interest-earning account access $1,000 minimum to open account Free online and mobile banking** First Bank also offers: Certificates of Deposit (CDs) with a fixed rate and choice of terms. IRAs for a long-term savings. Health Savings Accounts (HSAs) to help you save for current and future health expenses. To view and compare all of our savings account options, click here. Visit Your Local First Bank Today At First Bank, we are dedicated to providing our customers with the best savings account options in North Carolina. Visit a location near you to learn more about opening an account, or visit our website today. To learn more about First Bank, visit these related articles: Best Savings Account Rates in North Carolina, What is a Child Savings Account, or Stress-Free Savings Account – North Carolina. *Withdrawal fee of $2 each after the first two during the month. Federal regulations limit withdrawals of preauthorized transfers to six (6) per month, including checks, drafts, online transfers, telephone transfers and debit card purchases. You may conduct an unlimited number of withdrawals at the ATM, in person at a branch, or by mail when the check is mailed to you. **While First Bank does 3 min read

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