Home Equity

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See our Lending Policy

Cash-Back Refinance Home Equity Loan	Refinancing an existing mortgage or home-equity loan - taking out cash at the time of closing More details below
First Lien Home Equity Loan	Borrowing against a home that you own outright or refinancing your existing mortgage. More details below
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 More details below
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) More details below
Home Improvement Loans	Borrowing money exclusively to improve your property More details below
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 More details below
Home Equity Conversion Mortgages (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 5-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 Exterior only appraisal or up to 3% in closing costs if Loan amount is over $150,000. Maximum of 80% of home 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	No closing costs on 1st liens (unless you request an independent appraisal or loan amount exceeds $150,000) Exterior only appraisal on 2nd liens 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 100% of value) with approved credit Minimal closing costs ranging from $55 to $525
Rental Equity Loan	Fixed, credit-based rates	1 to 5-year terms Minimal closing costs ranging from $55 to $525 Lending limit of 80% of appraised value
Home Equity Conversion Mortgages (Reverse Mortgages)*	Adjustable or Fixed	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, contact our Reverse Mortgage Department at 806-356-1445

* Correspondent for James B. Nutter & Company, MetLife and Genworth Financial

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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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Home Equity

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