Planning to purchase, build or refinance a home? Be prepared for a confusing range of mortgage alternatives, such as long term fixed rate loans, adjustable rate loans, balloon loans, conventional, FHA, and Rural Development loans. That's why you want to get your mortgage from someone you can TRUST your local First Bank of Manhattan.
Our experienced mortgage officers have gone through extensive training to help you choose the loan that will work best for YOU. They're here to explain and simplify your mortgages options, and to make sure that you have the best mortgage for you or your family's individual needs. Of course, you can always count on First Bank of Manhattan for competitive rates and low closing costs.
Don't Go Shopping for a New Home Until You Know Exactly How Much You Can Spend!
We offer a No Cost Pre-Approval which means you can go shopping for a home with confidence about your buying power.
When you come in to apply for a new mortgage loan please bring the following items with you:
- Last 30 days of pay stubs
- Last 2 years W-2's
- Last 2 months bank statements
- Complete Tax Returns for the last 2 years
- Copy of Homeowners Insurance Policy, if this is a refinance
- Information on existing mortgage or mortgages, if this is a refinance
- Copy of Contract, if this is a purchase
- Person to contact for access to dwelling, including phone number
- Name, address, telephone number of attorney, if applicable
REAL ESTATE LOANS
First Bank of Manhattan offers a wide variety of Real Estate Loans, including:
- Construction Loans - Build your dream home! We allow you to be your own General Contractor or we can work with your chosen General Contractor.
- Lot Loans For the purchase or refinance of vacant land.
Home Equity Line of Credit (HELOC)- A Home Equity Line of Credit is great for projects such as home repairs, which have the potential for unforeseen expenses. A HELOC offers the flexibility to borrow again and again as it is repaid. You make purchases by writing a check.
Unlike some banks, the variable interest rate of our HELOC is based on the size of your credit line, not the amount you use. This can add up to substantial savings for you. Plus, in most cases, the interest you'll pay may be 100% tax deductible (consult your tax advisor).
- Home Equity Loan If you need a set amount for a specific purpose, such as paying off higher rate credit card debt or purchasing a new vehicle, a home equity loan is probably your best choice. You receive one lump sum and your interest rate and monthly payment are fixed for the term of the loan; protecting you from rising rates.
Consumer loans are installment or single pay loans that can be used for a variety of purposes, including:
- Vehicle Loans Getting behind the wheel of a new car, or refinancing a vehicle you already own, has never been easier. FBM offers competitive rates and flexible terms for automobile, RV, boat, ATV, motorcycle, and trailer loans.
- Deposit Secured Loans Looking for a loan with a low rate? Consider using the value of your First Bank of Manhattan deposits to secure a loan. That way, you won't have to withdraw your money, and you'll continue to earn interest on your deposit account while paying back the loan.
- Personal Loans A great way to refinance higher rate debt, or to get the money you need for planned (or sudden) expenses. Both secured & unsecured personal loans are available.