First Savings Bank Mortgage Rates and Offers Explained

First Savings Bank offers competitive mortgage rates to its customers, with rates ranging from 3.5% to 4.5% APR for a 30-year fixed-rate mortgage.

For a 15-year fixed-rate mortgage, First Savings Bank offers rates as low as 2.75% APR. This is a great option for those who want to pay off their mortgage quickly.

To qualify for these rates, borrowers typically need a credit score of 720 or higher and a debt-to-income ratio of 36% or less. This means that borrowers should have a good credit history and not be carrying too much debt.

First Savings Bank also offers mortgage rates as low as 3.25% APR for a 30-year fixed-rate mortgage with a down payment of 20% or more. This is a great incentive for those who can afford to put down a larger down payment.

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First Savings Bank offers a variety of mortgage products to fit different needs and budgets. They have a range of mortgage rates that are competitive in the market.

Their mortgage rates are influenced by market conditions, and they have a team of experts who can help you navigate the process and find the best option for you.

First Savings Bank offers fixed-rate mortgages with competitive interest rates, starting at 3.99% APR for a 30-year loan.

These fixed-rate mortgages can be used to purchase a new home or refinance an existing one, providing stability and predictability in monthly payments.

A 30-year fixed-rate mortgage means your monthly payment will remain the same for the entire loan term, without any surprises or increases.

For example, a borrower who takes out a $200,000 30-year fixed-rate mortgage at 3.99% APR can expect to pay around $955 per month.

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First Savings Bank offers a variety of discounts and incentives to help you save money and achieve your financial goals.

If you're a student, you can take advantage of their Student Checking account, which waives the monthly maintenance fee. This account is designed specifically for students and offers many benefits.

With their Youth Savings account, kids can earn interest on their savings and learn valuable lessons about money management. This account is perfect for kids as young as 18 months old.

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By opening a First Savings Bank account, you'll get access to their network of over 55,000 surcharge-free ATMs. This means you can withdraw cash or deposit funds without incurring extra fees.

First Savings Bank also offers a rewards program that gives you points for using their debit card or credit card. You can redeem these points for cash back, gift cards, or other rewards.

Their mobile banking app allows you to manage your accounts, pay bills, and transfer funds on the go. This convenient feature saves you time and makes it easy to stay on top of your finances.

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First Savings Bank is offering a special promotion for new customers. They're waiving the minimum balance requirement for the first six months, giving you a chance to earn interest without the hassle.

You can earn up to 2.00% APY on your savings account, which is a great way to grow your money over time. This rate is available on balances up to $25,000.

Their mobile banking app allows you to manage your accounts on the go, making it easy to stay on top of your finances. You can deposit checks, transfer funds, and even pay bills right from your phone.

By taking advantage of this promotion, you can start building a safety net for yourself and your family. It's a great feeling to know you have a cushion in case of unexpected expenses.

At First Savings Bank, you can get in-person assistance at any of their 12 locations throughout the state. They have a dedicated team of banking professionals who are ready to help you with all your financial needs.

Their banking hours are Monday through Friday from 9am to 5pm, and Saturday from 9am to 1pm, giving you plenty of time to stop by and get the help you need.

Their staff is knowledgeable and can assist with a wide range of services, including opening new accounts, applying for loans, and answering any questions you may have about your account.

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Understanding mortgage terms and conditions is crucial when considering a First Savings Bank mortgage. The bank offers a 30-year fixed mortgage rate of 3.75% with a 3.85% APR, which can save you thousands of dollars in interest over the life of the loan.

To qualify for a mortgage, you'll typically need a credit score of 620 or higher. This means that if you have a credit score below 620, you may need to work on improving it before applying for a mortgage.

First Savings Bank also offers a 15-year fixed mortgage rate of 3.25% with a 3.35% APR, which can help you pay off your mortgage faster and save even more on interest.

An Adjustable-Rate Mortgage (ARM) can save you money in the short term with a lower initial interest rate, but be aware that it may increase over time.

ARMs are tied to a specific interest rate benchmark, such as the London Interbank Offered Rate (LIBOR) or the Federal Funds Rate.

The initial interest rate on an ARM is typically fixed for a certain period, after which it can adjust annually or semi-annually.

ARMs often have a cap on how much the interest rate can increase, which can provide some protection against sudden rate hikes.

You may be able to convert an ARM to a fixed-rate mortgage, but this can come with fees and penalties, which can be steep.

Many ARM contracts include a "teaser rate" that's lower than the market rate, but be aware that this rate is usually only available for a short period, often 1-3 years.

Discover more: 3 Year Arm Mortgage Rates

When considering a mortgage, it's essential to understand the loan amounts and terms involved.

Typically, mortgage loan amounts range from $50,000 to $2 million, depending on the property's value and the lender's requirements.

A 30-year mortgage is a common loan term, allowing homeowners to spread payments over three decades.

Monthly payments can be fixed or variable, depending on the interest rate and loan terms.

Some lenders offer 15-year mortgage options, which can help homeowners pay off their loans faster.

The loan-to-value (LTV) ratio is an important factor in determining loan amounts, typically ranging from 80% to 95% of the property's value.

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You'll need to pay a mortgage application fee, which can range from $300 to $1,000, depending on the lender and your location.

The origination fee is typically a percentage of the loan amount, ranging from 0.5% to 1%, and is used to cover the lender's costs.

Some lenders may charge a prepayment penalty, which can range from 1% to 5% of the outstanding loan balance, if you pay off the loan early.

This fee can be a significant amount, especially if you're paying off a large loan balance.

The annual percentage rate (APR) of your mortgage will include the interest rate and any fees associated with the loan.

The APR can vary depending on the lender and the type of loan, but it's always higher than the interest rate.

The total cost of the loan, including fees and interest, is represented by the APR.

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