3 Benefits of a Fixed Rate Mortgage Loan

If you’re in the home buying market, you’ve probably been inundated with information about your mortgage options. At a certain point all of the finance terminology starts to sound like a foreign language.

Thankfully, you don’t need to be overwhelmed when it comes to understanding a fixed rate mortgage. One of the most straightforward loans, many home buyers opt for this option due to their security and transparency. Here are a few benefits to consider when deciding if a fixed rate loan is best for you and your family.

  1. Lock in Your Interest Rate
    When you get a fixed rate loan from Abbeville First, the interest rate (the percentage you pay your lender in exchange for the loan) that you qualify for at the time of closing remains the same throughout the life of the loan. This means that even if interest rates increase, your mortgage payment stays the same every month.
    For families or individuals on a budget, this is a huge benefit of having a fixed rate loan. When you know exactly what you’re paying each month, budgeting and building a savings becomes easier.
  2. Transparent Loan Terms
    Many buyers opt for fixed rate loans due to their easy-to-understand terms and conditions. When shopping for a mortgage, a lot of the terms you’ll hear may sound overwhelming if you’re not familiar with the industry.
    Fixed rate loans are upfront with their terms and repayment schedule, and often come with an amortization schedule at closing. This schedule outlines each month’s payment, how much will be allocated towards principal (the original amount that you borrow) and interest, and exactly how much longer it will take to pay off the loan.
  3. Pay Towards Principal
    Since Abbeville First Bank doesn’t have any prepayment penalties, you have the option of paying extra money towards your principal each month. Even an amount as small as an extra $10.00 per month can help you make huge strides towards taking months, or even years, off your mortgage.


Ready to take the next step? Get pre-qualified for a Fixed Rate Mortgage today!

Coronavirus COVID19 Stimulus Checks

Economic Impact Payments

The IRS and the Treasury Department have begun delivering a second round of Economic Impact Payments (stimulus check) for qualifying individuals as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.

You can check the status of your economic impact payment (stimulus check) through irs.gov/coronavirus/get-my-payment.

Frequently Asked Questions about the Stimulus Checks:

How will I get my payment?

If you are eligible to receive a payment, you will receive it in one of three ways:

    • By automatic deposit into the bank account reflected or reported on your 2019 or 2018 tax return.
    • If you have not given the IRS your direct deposit account information in the last two years you will receive a paper check from the US Treasury.
    • Note: During the last round of stimulus checks we learned that if you used a tax preparer who offered “instant” refunds, it is possible your paper check went there. You will need to contact your tax preparer for more information.
    • Instead of receiving a paper check, some customers will receive a prepaid card in the mail.

When will I get my payment?

Per the IRS and Treasury Departments, direct deposit payments may have begun appearing as “pending” in some accounts, however funds will not be available before Monday, January 4, 2021.
You might want to set up a direct deposit alert through your account online to be notified by text or email when you receive direct deposits. 

Paper checks with the pay date of Wednesday, January 6, 2021, began to be mailed on Wednesday, December 30, 2020. If you receive your check before the designated date you will not be able to cash or deposit it until the date displayed.


I received a check, now what?

Our lobby is open and ready to serve you! However, if you would rather keep a little more distance, you can make your deposit in our drive-thru. Don’t want to leave home? It is easy to deposit your check with our mobile banking app! 

Download our Android App | Download our Apple App

Why haven’t I gotten my payment yet?

We have no control over when you receive your payment (if it were up to us you would have it already). To learn more about eligibility and to check on your payment, visit IRS.gov/coronavirus.


How can I protect myself from scammers or fraud?

If you receive a suspicious email or text message, don’t respond, click on links, or open attachments! Please know that we will never ask for your confidential information (such as your card PIN, access code, or online banking password) if we reach out to you.

Should I visit the bank or call for additional information?

While it is always a pleasure to see and speak with you, our employees will not have access to the status of your economic impact payment. 

We encourage you to access your account online as a first choice for viewing account information. We will provide more information as it becomes available. In the meantime, please check  IRS.gov/coronavirus for more information.

Our Lobby Is Open

As of May 11th our lobby has been open for regular business. To ensure the safety of our customers and employees we are using the following guidelines:

Abbeville Main Office

    • 9:00 to 9:30 lobby opened only for customers age 60 & older and those at high risk
    • All Frontline employees will be wearing a mask
    • All customers are encouraged to wear a mask (Disposable masks are available)
    • All customers will be asked sanitize their hands when entering
    • All customers will follow social distancing measures (floor markings)
    • No more than four customers will be allowed in lobby at a time

Calhoun Falls Branch

Lobby will remain closed

Abbeville First Announces Lobby Closure


***Update: The Abbeville Office Lobby is Open***



~Original Post Below~

Dear Valued Customer,

Abbeville First Bank wants to do whatever we can to assist our local, state, and federal health officials in stemming the spread of the coronavirus while still providing needed services to our customers.  To this end, beginning 1:00 PM on Thursday March 19th, the lobbies in our Abbeville and Calhoun Falls locations will be closed to the public.  Our Drive-Thrus will remain open for normal business hours.

Access to financial service providers within the Abbeville office may be obtained on a limited basis by appointment only.  Please call 864-366-2158 during regular business hours to make an appointment.  The Calhoun Falls lobby will not be open

You may still access your accounts by using our Drive-Thurs during regular business hours, our ATMs and online banking.  If you are not currently using Abbeville First Online Banking we encourage you to register for this service at our Personal Online Banking site.  Business account owners please call the bank to set up Business Online Banking access.

Please! Do not consider coming to the Bank, or anywhere public, if you exhibit any signs of not feeling well.  Visit the CDC website for more information.

The health and welfare of our customers, employees, and community are of the upmost importance to us.  We apologize for the inconvenience this situation is causing and hope we can return to normal operations soon.


Andy Timmerman

COVID-19 Announcement

We at Abbeville First Bank understand the concerns, worries and stress everyone is feeling in the community.  We are right here with you.  We all need to do our part to try to “Flatten the Curve”.  We ask our customers to limit their lobby visits by using our Drive-Thrus, ATMs (disinfected often), and online banking at our Online Services Page.

To help alleviate the stress, upon request we will defer the loan payments on any small business loans for the month of April and May.  If you have a consumer or mortgage loan and you have had a significant loss of income due to the virus crisis, we will defer your April and May payments upon request. Just call and ask.

Abbeville First’s only concern is the well-being of the community it serves, Abbeville.  We ask everyone to do their part: following the advice of the Centers for Disease Control, limit your exposure, check on your neighbors, and pray for a speedy recovery of our community, state, and nation.

Abbeville First Supports the Burton Center

Abbeville First is happy to make a donation to the Burton Center in support of the wonderful services that they provide to residents with disabilities and special needs within the Greenwood, Abbeville, Edgefield, McCormick, Saluda, and Laurens County areas.

Pictured here are (right to left) Mark Meyers, Ashley Bonds, Mike Campbell, Burton Ctr. Interim Exec. Director Laurie Cordell, and Antonio Belcher.

Operation Impact


Abbeville First is proud to support the many great organizations we have serving the needs of our community. Among those great local organizations Operation Impact has proven to be a star. We’re happy to support the ongoing ministries that they provide to Abbeville County with a donation of $1,000.00.


AFB Supports UCMAC

Abbeville First is happy to support the wonderful ministry of United Christian Ministries of Abbeville County. Mark Meyers recently presented a donation of $2, 000 on behalf of the Board of Directors and employees of AFB to UCMAC Exec. Director Bill Boone.

You can find out how you can support UCMAC at http://ucmac.net/

Or on Facebook: https://www.facebook.com/UCMAC/

Welcome Selena Belcher

We would like to welcome Selena Belcher as the newest member of our team. Selena joins us as our new teller in the Calhoun Falls Office. She is new to banking and comes to AFB from Bilo where she has worked for the past 15 years. Selena trained at the Abbeville office for the past couple weeks and started at the Calhoun Falls office this week. Stop by and say hello to Selena when you’re at the Calhoun Falls office and make her feel welcome as a new member of the AFB family.

Online Banking Maintenance – Sunday May 12th

Our Online Banking and Mobile Banking App will be down for maintenance during the early morning hours of Sunday May 12th, from 2:00 AM to 6:00 AM EDT.

We apologize for any inconvenience.