Personal Loans

Installment Loan

Definition	An installment loan is a loan with a scheduled monthly payment, usually for the purchase of large-scale goods and services. The loan may be secured or unsecured.
Features:	1) Competitive interest rate 2) Loan amount may be between $200 and $50,000 3) 0.25% discount for automatic deduction of automobile loan payment 4) Payments can be made by auto deduction, payment book, or monthly billing statement. 5) Credit Life Insurance and Accidental and Health Insurance is available GAP protection on automobiles

Credit Plus

Definition	A revolving line of credit for consumers to extend themselves credit up to a predetermined amount. The line can be either unsecured or, if necessary, secured by collateral
Interest Rate	Prime Rate as quoted in the Wall Street Journal adjusts daily plus 3%
Annual Fee	$20 (Annual fee waived for Hometown and Fabulous 50 Members)
Repayment	$25 or 3% of balance, whichever is greater
Minimum Loan Amount	$500
Minimum Draw per Transaction	$100
Features:	1) Access to line by convenience checks 2) Customer only pays interest when account is used 3) Convenient low monthly payments 4) Prepayments can be made without penalty at any time 5) 25 free checks 6) Account can be used for whatever the customer chooses

First Mortgage Residential Real Estate Loan

Definition

A loan designed for the purchase or the refinance of an owner occupied single family dwelling.

Features:

1) Priced at lowest possible interest rate 2) Lending limit at 90% of purchase price or appraisal value (whichever is lower) 3) Low closing costs - no PMI's or Escrows, no title insurance required 4) Interest may be tax deductible.  Check with your tax advisor. 5) All Hometown members receive a 25% discount on in-house appraisals 6) Credit life insurance available 7) Local decision making 8) Equal Housing Lender

Secondary Market Mortgage

Definition	A secondary market mortgage is a fixed or adjustable rate home loan. The loan is processed by FNB, but is transferred and serviced by an affiliated banking institution
Features:	1) Fixed rate Mortgage 2) Equal Housing Lender 3) Adjustable rate mortgages available

Residential Second Mortgage Loan

Definition	A low rate loan structured by recapturing equity from the home.
Features:	1) Competitive interest rate 2) Payments can be made by auto deduction, payment book, or monthly billing statement. 3) Low closing cost 4) Local decision making 5) Interest may be tax deductible. Check with your tax advisor. 6) Credit Life Insurance 7) Prepayments can be made without penalty 8) If first mortgage is held by FNB, there are no closing costs

Residential Construction Loan

Definition	A short-term financing for the construction of single family residences before the permanent loan is put into place.
Features:	1) Short term financing 2) Funds advanced as construction progresses  3) Local decision making  4) Lending limit up to 85% of appraised value 5) No charge for inspection

Equity Plus

Definition	A revolving line of credit made available for individuals who have established excellent credit history and have equity in their home.
Pricing Varies with LTV Ratio	Prime rate as quoted in the Wall Street Journal adjusts daily Plus applicable margin ( Certain restrictions may apply)
Minimum Loan Amount	$5,000
Minimum Draw per Transaction	$100
Features:	1) Alternative to credit cards  2) Access to line by convenience checks  3) Customer pays interest only on the outstanding balance. 4) Convenient low monthly payments 5) 25 free checks 6) Account can be used for whatever the customer chooses 7) Interest may be tax deductible. Check with your tax advisor. 8) An "all purpose" loan