Investing in our community one family at a time
Loans

Residential Loans


Mortgages
We offer a variety of Mortgage Loan products for you to choose from.

NMLS Registry Information for First National Bank in Taylorville

First National Bank in Taylorville 459041

Loan Originator     NMLS Originator ID
Blain Cornwell:  464461
Thomas Bolfing:  464459
James Kirk:  464463
Jared Beckham: 464457


Fixed Rate Loans:

  • A fixed rate loan gives you the security of knowing that your Interest rates are fixed throughout the life of the loan. We offer several options in the secondary market, some with as little as no money down. Terms can vary from 15, 20, and 30 year options.

ARM Loans:

  • An Adjustable Rate Mortgage offers you the flexibility of a lower interest rate while starting out with an initial fixed rate but adjusting to the current market conditions after a predetermined lock period of (1, 3, or 5 Years). These loans are kept and serviced internally at First National Bank in Taylorville.

Construction Loans:

  • Looking to build your dream house? Come in or call our Loan Officers to get started on building your home of your dreams. We offer several options to get your home completed just the way you have in mind.

HOME EQUITY LOAN

  • A Home Equity Loan is very similar to other loans. The lender gives you a lump sum, expecting repayment plus interest and other fees. Home Equity Loans are secured by your home and are good for use on a specified project for a set amount. Many people find that Home Equity Loans are convenient for debt consolidation, paying for education expenses and paying for other personal expenses, as the interest rate is often lower and usually tax-deductible (please consult your tax advisor).

HOME EQUITY LINE OF CREDIT

  • A Home Equity Line of Credit (HELOC) is another type of home equity. However, a HELOC is considered a "Variable Rate" revolving credit account. It is flexible. It works like a line of credit - you can borrow money, and as you pay it down, you can borrow more. A HELOC comes with a limit that usually corresponds somewhat to the equity you have in your home. Money from a home equity line of credit is fairly accessible. You don’t have to apply for a new loan to get more money if you need more than you thought you did. However, you do have to stay within your limit. Like a Home Equity Loan, the HELOC often has tax-deductible interest payments.

A HELOC is most convenient for home improvements. Because of the nature of major remodeling or improvement projects, things can easily cost more or less than you thought. A HELOC makes it easy for you to borrow money as you need it.

 

Home Equity Line of Credit Home Equity Loan
Description Revolving line of credit that you can pay down and then re-borrow.  Allows you to activate your line up to the approved amount when you need it. Locks in your interest rate for up to 5 years.
Terms Draw period 5 years. Repayment Period up to 10 years. Maximum 15 years repayment.
Access Options Access to funds through checks and online or telephone transfers N/A
Monthly Payments 1% of principal balance and earned fees and charges. Payments will vary with rate. Payments will vary with rate.
Other Features Convert your line to a loan at anytime for a fee. *A variety of repayment options. ** Savings on loans when you switch your account.

*You may have a balance remaining at the maturity date.  The remaining balance may be paid in full, refinanced with a different loan product, or refinanced for a final term of the loan.