Consumer Loan Information and Terms

Fixed Rate Home Equity Loan

Franklin Bank offers fixed rate home equity loans for primary, secondary and investment properties.

Primary or secondary residence

Terms:

1. $80.00 mortgage recording fee, to be deducted from the loan proceeds
2. Maximum LTV is 80%
3. *Add 0.75% to the interest rate if the payment is not automatically deducted from a Franklin Bank checking account
4. Add 1% to interest rate for loans $5,000.00 to $14,999.00

Investment Properties (1-4 family residences)

Terms:

1. $180.00 closing fee,  to be deducted from the loan proceeds
2. Maximum LTV is 80%
3. Add 1% to the interest rate for primary residences
4. Available on Fixed Rates Home Equity Loan product only

Revolving Line of Credit

Franklin Bank offers a variable rate Home Equity Line of Credit, (HELOC) for primary and secondary residences only. The index used is Prime rate as published in the Wall Street Journal. The interest rate floor is 4.00%. Our Home Equity Disclosure  offers additional information.

Terms:

1. $80.00 mortgage recording fee, to be deducted from the loan proceeds
2. Maximum LTV is 80%
3. The maximum rate cap is 8% over initial rate
4. Maximum loan amount $250,000

Land

1. $395 application fee, to be paid and returned with the loan disclosures 
2. Maximum LTV is 50% for raw land, 65% maximum for improved sites
3. Maximum Term is 10 Years
4. LTV is based on appraised value or purchase price, whichever is less

Interest Only/Non-Amortized/Swing Loan/Bridge Loan

1. $395 application fee, to be paid and returned with the loan disclosures 
2. Maximum Loan to Value 80%
3. Term: up to 12 months
4. The interest rate is fixed and based on Prime Rate as published in the Wall Street Journal plus 1.00% with a minimum rate 6.50%

Unsecured Loans

Terms:

1. There are no fees associated with this type of loan
2. *Add 0.75% to the interest rate if the payment is not automatically deducted from a Franklin Bank checking account

New Auto Loans

(Models 2009 and 2008 leftovers)

Terms:

1. There are no fees associated with this type of loan
2. The maximum financing is 90% of sticker price or book value, whichever is less
3. *Add 0.75% to the interest rate if the payment is not automatically deducted from a Franklin Bank checking account

Used Auto Loans

(Models 2002-2009)

Terms:

1. There are no fees associated with this type of loan
2. Maximum financing is 80% of N.A.D.A. Book Value or purchase price, whichever is less
3. *Add 0.75% to the interest rate if the payment is not automatically deducted from a Franklin Bank checking account