Available to members and their spouses, parents and children, this mortgage offers low, competitive rates and a range of options to help you find the solution that’s right for you and your family.
how it helps
The FNBO Mortgage Program's low competitive rates can help make your next home more affordable. Pay no application fee, no origination fee, and no processing fee – an estimated value of $660.
There’s a range of loan options available to help you find the mortgage that’s right for you and your family. Choose from conventional loans, FHA loans. VA loans and USDA loans.
FNBO loan experts are available to assist you in navigating the home purchasing or refinancing process. Also, check out the Home Buying Process Quick Guide to help you get started.
How It Works
First National Bank of Omaha (FNBO) is committed to strengthening the communities they serve. As part of that commitment, they support initiatives related to adult basic education, vocational and employability training, financial and life-skills education as well as youth educational programs and support services. Since 2015, FNBO has invested more than $5 million in organizations across their seven-state footprint.
It’s highly advised that buyers get pre-approval for a home loan before purchasing a new home. By inquiring about a loan, you’ll know if you have credit approval before you find your dream home, giving you an edge in a competitive buyer’s market.
Your credit score is calculated by the credit bureau, not by the lender. Your credit score is a compilation of information converted into a number that helps a lender to determine the likelihood that you will repay the loan on time. Things that can affect your credit score include your payment history, outstanding loans, the length of your credit history, the types of credit you’re currently using, and the number of recent inquiries that have been made about your credit.
The interest rate is the cost of borrowing the principal loan amount. The Annual Percentage Rate (APR) is a broader measure of the cost of a mortgage because it includes the interest rate plus other costs such as broker fees, discount points and closing costs, expressed as a percentage. Talk to your loan officer about how to figure your mortgage rate estimate based on these two rates.
An Adjustable Rate Mortgage (ARM) is a loan that offers a lower introductory interest rate, but will adjust up or down to match changes in the current market interest rate after a certain length of time. This is a great loan option for buyers wanting a low introductory rate or who are planning to move within a certain number of years.
Mortgage points, also known as discount points, are fees paid directly to the lender at closing in exchange for a reduced interest rate. This is also called “buying down the rate,” which can lower your monthly mortgage payments. Each point is equal to 1% of your mortgage loan (or $1,000 for every $100,000). Essentially, paying points requires more funds at the time of closing but will result in lower monthly payments over the term of your loan.
This is paid advertising.
First National Bank of Omaha (FNBO) is a mortgage lender advertising its home mortgages to NEA Members. Neither NEA nor NEA’s Member Benefits Corporation endorse, recommend, or guarantee products or services offered by FNBO. NEA Members are not required to use FNBO. FNBO, NEA and NEA’s Member Benefits Corporation encourage NEA Members to shop around to ensure you are receiving the services and loan terms that fit your home financing needs. Neither NEA nor NEA Member Benefits Corporation is a mortgage lender, and they do not take loan applications, offer, negotiate, arrange or make mortgage loans or lines of credit.
First National Bank of Omaha NMLS ID 412727.