You agree and understand that: Skip-A-Pay payment deferral is not completed until an extension agreement is completed and approved
by First Bank of Newton. Finance charges will continue to accrue at the rate provided in your original loan agreement, during and after
this time. Deferring your payment will result in having to pay higher total finance charges than if you made your payment as originally
scheduled. The payment deferral will extend the terms of your loan(s) and you will have to make extra payments(s) after your loan(s)
would otherwise be paid off. You will be required to resume your payments the month following the payment deferral. If you elected GAP coverage, the
coverage may not be extended beyond the original maturity date. If you have GAP coverage, executing this agreement may or may not
void your GAP coverage. Contact your loan officer for details. All deferrals are subject to First Bank's approval. Your loan(s) must have
been opened for at least 90 days and must be current (have no amount past due) to accept this offer. Completed Skip-A-Pay forms must
be received at least fifteen (15) business days before the loan payment due date or actual date of the draft. Requests received after the
above mentioned dates will be processed for the following month. Only one payment deferral per loan account permitted. Certain
restrictions may apply. Excludes all business, mortgage, home improvement, home equity, and mobile home loan accounts.
Skip-A-Pay offer expires January 31, 2018.
Additional eligibility requirements are explained in the "Frequently Asked Questions" below.
Frequently Asked Questions
What is the Skip-A-Pay offer?
First Bank’s Skip-A-Pay offer allows you to skip one monthly payment on qualifying loans. That payment is then added to the end of your loan term.
What loans are NOT eligible for skips?
All business, mortgage, home improvement, and home equity loan accounts loans are not eligible for the Skip a Pay program.
Is there a fee?
How does it affect my loan?
The skipped month will be added to the end of your loan, extending the loan term. Interest will continue to accrue during the skipped month.
What if I have automatic (ACH) payments?
If you have automatic payments from a First Bank account, or if we pull your payment automatically from another financial institution, we'll arrange your skip for the month you selected. Please have your skip request to us 15 business days prior to your payment date. This gives us time to modify your ACH for the month you've requested your skip.
What if I pay my loan through online Bill Pay?
Bill Pay is different than automatic (ACH) payments. If you use First Bank’s Bill Pay or Bill Pay from any financial institution, you'll need to log into Bill Pay to stop and restart the payment yourself. Don't forget to turn it back on after your skip!