Mortgage Loans

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Buying a new home should be a pleasant experience.

We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home Buy Ability Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan with us.

Once you know approximately how much home is in your price range, use the guide below or our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments.

Monthly Mortgage Payment Guide

Mortgage Amount 4% APR 5% APR 6% APR 7% APR 8% APR
$ 60,000 $ 286 $ 322 $ 360 $ 399 $ 440
$ 80,000 $ 382 $ 429 $ 480 $ 532 $ 587
$ 100,000 $ 477 $ 537 $ 600 $ 665 $ 734
$ 120,000 $ 573 $ 644 $ 719 $ 798 $ 881
$ 140,000 $ 668 $ 751 $ 839 $ 931 $ 1,028
$ 160,000 $ 764 $ 859 $ 959 $ 1,064 $ 1,174
$ 180,000 $ 859 $ 966 $ 1,079 $ 1,198 $ 1,321
$ 200,000 $ 955 $ 1,074 $ 1,199 $ 1,331 $ 1,468

The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest with a term of 30 years. We offer a variety of mortgage plans.

Is Refinancing Right For You? Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage.  You may also apply for a Home Equity Line of Credit. It can help you save on fees when you apply; interest when you want to borrow money; and, on taxes at the end of the year (contact a tax advisor for further information regarding the deductibility of interest and charges). For more details, speak to one of our mortgage loan experts at (901) 525-0384.