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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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Reverse Mortgages* Using your home's equity to make payments to yourself - the reverse of a traditional mortgage

More details below
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 30-year terms
  • No closing costs (unless borrower requests an independent appraisal or loan amount is over $150,000)
  • Maximum of 80% of home value
Second Lien Home Equity Loan Fixed, credit-
based rates
  • 1 to 15-year terms
  • No closing costs (unless borrower requests an independent appraisal or loan amount is over $150,000)
  • Maximum of 80% of home value
Home Equity Lines of Credit (HELOC)

Adjustable, credit-based rates ranging from Prime (JP Morgan Chase Prime rate) minus .50% to 10.75%, depending on your credit score

  • No closing costs on these loans (unless you request an independent appraisal or loan amount exceeds $150,000)
  • 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 value

Home Improvement Loans

Fixed, credit-based rates
  • 1 to 15-year terms
  • Loan amounts must be equal or less than improvement bids; you can borrow more (up to 105% of value) with approved credit
  • Minimal closing costs ranging from $55 to $525

Rental Equity Loan

Fixed, credit-based rates
  • 1 to 7-year terms
  • Minimal closing costs ranging from $55 to $525
  • Lending limit of 80% of appraised value
Reverse Mortgages* Adjustable
  • Available only to people who are at least 62 years old
  • Payments can be received on a monthly basis, in a lump sum, as a line of credit, or a combination
  • No online applications, apply in person at any full-service ANB location
* Correspondent for James B. Nutter & Company

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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