LENDING

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ADDITIONAL INFORMATION

Cash-Back Refinance Home Equity Loan Refinancing an existing mortgage or home-equity loan - taking out cash at the time of closing

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First Lien Home Equity Loan Borrowing against a home that you own outright or refinancing your existing mortgage.

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Second Lien Home Equity Loan Obtaining a second lien on your home for the home's equity - this means you have two monthly payments, one for your mortgage and one for the second lien

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Home Equity Lines of Credit (HELOC)

Securing a revolving line of credit (similar to a credit card), which you can borrow from and repay repeatedly (your homestead serves as collateral)

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Home Improvement Loans

Borrowing money exclusively to improve your property

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Rental Equity Loan

Borrowing against a rental property that you own outright - must not be your primary home, and must have no liens on the property

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Rates Details
Cash-Back Refinance Home Equity Loan Fixed rates
  • 10, 15, 20 and 30 year terms
  • Up to 3% closing costs
  • Escrow accounts
  • Maximum of 80% of home value
First Lien Home Equity Loan Fixed, credit-
based rates
  • 1 to 5-year terms
  • Low closing costs
  • Up to 3% in closing costs if loan amount is over $150,000
  • Maximum of 80% of home's value
Second Lien Home Equity Loan Fixed, credit-
based rates
  • 1 to 15-year terms
  • Low closing costs
  • Up to 3% in closing costs if loan amount is over $150,000
  • Maximum of 80% of home's value
Home Equity Lines of Credit (HELOC)

Adjustable, credit-based rates based on Prime (JP Morgan Chase Prime rate) plus a margin, depending on your credit score
  • Low closing costs
  • Under state law, the maximum line of credit cannot exceed more than 50% of the value of the home and all liens together cannot exceed 80% of home's value

Home Improvement Loans

 Fixed, credit-based rates
  • 1 to 15-year terms
  • Loan amount must be equal or less than improvement bids
  • With approved credit, you can borrow up to 100% of th home's value
  • Closing costs ranging from $165 to $700

Rental Equity Loan

 Fixed, credit-based rates
  • 1 to 5-year terms
  • Low closing costs
  • Lending limit of 80% or less of appraised value
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
Amarillo National Bank complies with section 326 of the USA PATRIOT Act. Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account such as name, address, date of birth and taxpayer identification. We may ask to see your driver’s license or other identifying documents.

 

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