Mortgage & Refinancing Loans
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Competitive Rates. Expert Guidance. Personalized Service.
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Your home means everything to you. Choose a home lending partner that understands and has been in business since 1903.
We help customers buy, build, remodel, and refinance houses every day, and we'd love the opportunity to earn your business. You can expect:
- responsive, personal service from experienced lenders.
- timely responses to questions.
- regular communication from your mortgage lender.
- honest and straightforward advice.
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A House is More Than a House, It's a Home
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Home Buying Just Got Easier
First National Bank's digital mortgage experience puts you in control. Prequalify to estimate how much you can borrow, apply for a new mortgage loan or refinance your current home, come back to an application you have started, or check your loan status.
Apply Online Finish Your App/Check Loan Status Contact a Lender
Homebuying & Refinancing Options
First National Bank offers a variety of mortgage financing options to fit your unique situation. Through this page, you can apply for a traditional mortgage loan to buy a home or apply to refinance your existing home.
First National Bank also offers Bridge Loans, which are a type of transitional loan for individuals who are selling their existing home and are ready to buy a new home. If you want to build a new house, rather than buying a home owned by someone else, consider our Home Construction Loans.
Getting Prequalified to Buy a Home
In today's real estate market, prequalification is must-have for buyers to be taken seriously by real estate agents and sellers. Mortgage prequalification is an informal evaluation of your creditworthiness and how much home you can afford. Prequalification indicates whether you meet the minimum requirements for a loan.
Prequalification is an important step for those who aren't sure whether they're financially ready for homeownership. You can also use our home affordability calculator to get a sense of what you can afford as you begin thinking about buying a home.
When seeking prequalification, you will be asked to provide basic information about your credit, debt, income, and assets; and your credit report will be pulled. Because prequalification is an informal, nonbinding evaluation, you can get prequalified in a day or two, sometimes less. Get started by contacting a mortgage lender or use the "Apply Online" button. There is no fee to apply for prequalification and no obligation to obtain a loan.
Please keep in mind, prequalification doesn't guarantee approval of your loan. When you find your home, you will complete a loan application, supply documents to verify your financial information, and begin the full loan approval process.
Homebuyer's Guide
Step-by-step, everything you need to know and do before buying a house.
Free Download
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Mortgage Loan Process
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Additional Resources
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We're Here to Help. Questions? Need Help With Your Application?
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Sara Lehman
Vice President Mortgage Loan Officer, Ames
Ph. (515) 663-3089
NMLS #: 609248
Email Sara
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Dona McMasters
Vice President Mortgage Loan Officer, Ames
Ph: (515) 663-3090
NMLS #: 591518
Email Dona
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Vicky K. Halvorsen
Senior Vice President, Osceola
Ph: (641) 223-4217
NMLS #: 745275
Email Vicky
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Nicole Jacobson
Vice Pres. & Loan Officer, Osceola
Ph: (641) 223-4226
NMLS #: 999221
Email Nicole
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You've Got Questions, We've Got Answers
Buying a home is one of the biggest financial decisions of your life. We want you to feel comfortable asking any questions that comes to mind throughout the loan process. Let's start with Homebuyers' Top 5 Questions.
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How much money will I have to come up with to buy a home?
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Well, that depends on a number of factors, including the cost of the house and type of mortgage you get. In general, you need to come up with enough money to cover three costs:
- earnest money: the deposit you make on the home when you submit your offer, to prove to the seller that you are serious about wanting to buy the house. When you make an offer on a home, your real estate broker will put your earnest money into an escrow account. If the offer is accepted, your earnest money will be applied to the down payment or closing costs. If your offer is not accepted, your money will be returned to you. The amount of your earnest money varies.
- down payment: a percentage of the cost of the home that you must pay when you go to settlement; the more money you can put into your down payment, the lower your mortgage payments will be.
- closing costs: these costs cover various fees your lender charges and other processing expenses. When you apply for your loan, your lender will give you an estimate of the closing costs, so you won't be caught by surprise.
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How much money do I need for a down payment?
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Making a down payment of 20% is ideal because you can avoid paying private mortgage insurance (PMI), but realistically, you may be able to obtain a loan with a lower down payment. For instance, if you are a veteran, you are eligible for a VA loan, which requires no money down.
Your mortgage loan officer will walk you through all of your options.
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Should I talk with the bank before looking at homes?
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The answer is Yes! There are tons of reasons why you should talk with the bank and get prequalified before looking at homes. First and foremost, talking with the bank before looking at homes can help you understand exactly how much you can afford. You'll only get frustrated looking at home that list for $300,000, when you can only afford up to $200,000.
Another important reason to talk with the bank before looking at homes is so you understand exactly what costs are associated with buying a home. One of our mortgage professionals can give you advice on the types of financing available, and other costs you need to consider in order to close on a home loan.
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What is the best way to improve my chances of being approved for a loan with better terms?
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Increasing your credit score is one of the best ways to improve your chances of being approved for a loan with better terms. Aspiring homeowners should monitor their credit reports regularly and consider a few tips to boost their scores.
- Pay your bills on time. What lenders care about most is the likelihood that you’ll pay back your debts. Consistently making payments on time shows you are reliable and should increase your credit health. Late or missed payments can significantly harm your credit score, so if your issue is keeping track of bills, consider setting up automatic payments or payment reminders.
- Pay down your debt. Your credit utilization ratio compares the amount of debt you owe to the amount of credit you have. Lenders want to ensure you’re not borrowing more than you can pay back. Work to keep your credit utilization below 30 percent by paying off your credit card balances in full each month or making consistent payments throughout the month. Card companies will gladly accept payment anytime.
- Don’t open multiple credit cards at once. Every time you apply for a credit card or loan, it generates a hard inquiry on your credit report, which usually stays there for about two years. Too many hard inquiries in a short period of time may turn lenders off because they may think you’re looking for cash or on the cusp of racking up a lot of debt.
- Don’t close old credit cards. It can be tempting to get rid of old cards you don’t use, but the length of your credit history is a significant factor in most credit scores, and you risk shortening that length by closing your oldest credit cards. Unless the annual fees outweigh the benefits, consider putting a couple charges a month on that card to keep your credit history longer.