First Commonwealth is a full service bank that operates in one hundred locations in Central and Western Pennsylvania. In addition to standard banking service, First Commonwealth offers its customers residential mortgages, commercial mortgages, business loans, construction loans, and consumer loans. First Commonwealth Financial also has non-banking subsidiaries in the insurance, trust, financial planning, and data processing industries. First Commonwealth is in the process of expanding. They acquired Pittsburgh Financial in 2003, and GA Financial in 2004.
First Commonwealth Bank Home Equity Loans
First Commonwealth has a good Home Equity Credit Line program. If you need extra cash for one of life’s unexpected in devours (roof repair, medical bills, etc.) you may wish to consider using your financial situation to your advantage. The Home Equity Credit Line allows you to use the equity you have built in your home to finance other necessities. First Commonwealth’s credit lines can come up to $500,000, depending on the value of your home and the amount of equity you have. They offer this mortgage with adjustable interest rates. The repayment schedule for this loan is very flexible: you can make a minimum payment each month, pay off your balance in a lump sum, or pay any amount in between. This loan is a revolving line of credit- as soon as you repay an amount on your loan, it becomes available again for other purposes.
If you want to use your equity to your advantage, but the Home Equity Credit Line doesn’t sound like the right program for you, consider the Home Equity Loan. The Home Equity Loan is used for the same purpose as the Home Equity Credit Line, but it works a little differently. Instead of receiving a revolving line of credit, you will receive a lump sum of cash up front. First Commonwealth offers payment protection in the event of disability or death for this loan.
First Commonwealth does not accept online applications for any of their mortgage programs. Instead, they request that you apply in person, or via telephone.
First Commonwealth Financial Corporation and all of its banking related subsidiaries are Equal Housing Lenders. They comply with the Fair Housing Act of 1968 and do not discriminate against borrowers based on race, color, national origin, religion, age, sex, familial status, or disability.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.