Common banking Frequently Asked Questions

Co-signers are helpful if you have limited credit history or if more than one person is responsible for making the loan payment. Contact us if you have any questions prior to submitting a loan application at 855.855.8805 or visit a location near you.

When applying for a loan, there are a few factors that may influence your annual percentage rate (APR).

Car loan example:

• Credit score – People with higher credit scores are more likely to qualify for a loan and receive a lower APR.
• Loan and down payment amount – Typically, a larger down payment lowers the size of your loan, and helps lower your monthly loan payments and APR, too.
• Loan term – Usually, the longer the term (months you’ll take to pay off the loan), the higher the APR.
• Age of the vehicle – Often, you're more likely to get a better APR for a new vehicle than you are for a used one.
• Other factors – Dealership mark ups, your debt to income ratio, vehicle mileage, type of vehicle purchased (cars dealerships are promoting vs ones everyone wants to own) may influence your APR.

Home loan example:

• Credit score – People with higher credit scores are more likely to qualify for a loan and receive a lower APR.
• Loan and down payment amount – Typically, a larger down payment lowers the size of the loan, and helps you get lower loan payments and APR, too.
• Loan term – Usually, the longer the term (months you’ll take to pay off the loan), the higher the APR.
• Points – Also known as discount points, lower your APR in exchange for an upfront fee.
• Fees – For example, broker or inspections fees may influence your APR.- Other – Appraisals, where the home is purchased may influence your APR.

We have many loan options to meet your financial needs.
If you have any questions, contact us at 855.855.8805 or visit a location near you.

When reviewing your loan details, you may see two rates, an interest rate and an annual percentage rate (APR).

Interest rate – This is the cost you will pay each year to borrow the loan amount. It’s typically expressed as a percentage, and doesn’t include fees or other charges to get the loan.

APR – Reflects the total cost of financing your loan per year including fees and interest accrued to the day of your first payment.

For example, an auto loan APR may include vehicle service contracts, GAP insurance or licensing fees. A home loan APR, may include broker fees, discount points and closing costs. When comparing different loan offers, it’s best to look at the APR since it includes all associated loan costs. For example, an auto loan APR may include vehicle service contracts, GAP insurance or licensing fees. A home loan APR, may include broker fees, discount points and closing costs. When comparing different loan offers, it’s best to look at the APR since it includes all associated loan costs.

Currently, First Tech does not offer a Medallion Signature Guarantee. Several of our locations provide notary services which may be acceptable for some document types. See our locations page to confirm the branch near you provides notary and schedule an appointment if applicable