BankAtlantic Mortgage

The first BankAtlantic opened in 1952 in Fort Lauderdale Florida.  Today, BankAtlantic operates in 77 branches throughout Florida communities.  BankAtlantic is a fully operating commercial bank that serves consumer needs and small business needs while also offering mortgages in commercial, industrial, and residential loans. BankAtlantic offers many free gifts to their customers, whether it is the daily red lollipop, the ice cream sundae on Sunday, or a $250 gift card with a Home Equity Loan, BankAtlantic is always handing out something.   They also have a mascot “7” that wanders around the bank, and will even show up at children’s birthday parties if asked in advance.  They are also proud to announce they are open extended hours, seven days a week.

BankAtlantic Mortgage Loan Options

BankAtlantic offers standard residence mortgages.  For their Home Equity Line of Credit, customers may borrow up to 100% of the value of their home, and BankAtlantic does not charge closing fees for credit lines under $500,000.  They also have an Interest Only Home Equity Line of Credit.  This loan comes in a ten year term, has no annual fees, an can be up to a one million dollar amount.  Their Home Equity Loan is available for primary residences, second homes, and rental properties and BankAtlantic promises you will hear back from them in one business day when applying for this loan.

BankAtlantic also offers many loans for small businesses, including the Business Equity Line of Credit and the Small Business Commercial Mortgage.  The Small Business Commercial Mortgage allows business owners to refinance or purchase owner occupied office buildings,  warehouses, medical offices, and other industrial buildings.  They also give loans for Medical office condos and office/warehouse condos, but those situations require specific underwriting criteria.

BankAtlantic in the Community

BankAtlantic is continually offering financial and volunteer support to local organizations.  The BankAtlantic Foundation, the charity portion of BankAtlantic, supports four key areas: community and economic development, human services, education, and the arts.  BankAtlantic Foundation has many important commitments.  They established a non-profit organization called South Florida Alliance for Humanity.  This organization supports Habitat for Humanity with financial donations.  BankAtlantic Foundation also provides Habitat for Humanity with free office space and mortgage services.  Another notable program BankAtlantic Foundation has worked with is called SmartMoney.  For this program, BankAtllantic Foundation worked with Hispanic Unity.  SmartMoney teaches Spanish speaking people basics on money management in the United States.  They cover everything from savings, debit, credit, to homeownership.  BankAtlantic believes this investment will empower the financial futures of many families in the area.

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