Mortgage Calculators and Mortgage Rates in New Mexico

The mortgage calculators combined with these current mortgage rates from MyBank can assist in determining your financing needs.  To determine which loan program might best serve your needs, simply enter the current loan amount and mortgage rate information from the MyBank current mortgage rates into the appropriate mortgage calculator and determine which loan program works best to match your needs.

MyBank is one of central New Mexico’s largest locally-owned banks.  MyBank has five branches in Belen, Rio Communities, Los Lunas, Albuquerque, and Mountainair.  MyBank has home loans for consumers that are in the market for a new home, want to add on to your existing home, or want to refinance and existing home loan.

MyBank offer numerous financing options to meet a variety of mortgage needs including:

First-time homebuyer programs with little or no money down.
FHA/VA government programs.
Fixed and adjustable rate mortgages available.
Specialized loans for the self-employed.
Flexible solutions for those with less than perfect credit.
Home equity loans.
Refinancing for debt consolidation, home improvements or even lower monthly payments.

Current rates at MyBank:

30 year fixed rate mortgage has a rate of 5.500% and an APR of 5.618%.
20 year fixed rate mortgage has a rate of 5.875% and an APR of 6.000%.
15 year fixed rate mortgage has a rate of 5.625% and an APR of 5.784%.
10 year fixed rate mortgage has a rate of 5.625% and an APR of 5.850%.
30 year fixed rate FHA mortgage has a rate of 6.000% and an APR of 6.098%.

Employing the mortgage calculator with these mortgage rates a home loan on a $250,000.00 purchase with a 20% down payment would have a monthly mortgage payment of $1,195.80 for the 30 year fixed rate mortgage, $1,418.92 for the 20 year fixed rate mortgage, $1,647.86 for the 15 year fixed rate mortgage, $2,183.30 for the 10 year mortgage and $1,199.62 for the 30 year FHA loan.

The APR calculation is based on a loan amount of $100,000 for purchase of a primary residence, with 80% loan to value (LTV), origination fee 1% and processing fee $275.

Mortgage rates subject to change and additional conditions may apply for the listed mortgage programs.  For further mortgage information and current mortgage rates a MyBank representative can be reached at 505-864-3301.  The bank web address posts current mortgage rates and offers further mortgage product information the web address is www.mybanknm.com.

Tags: mortgage calculator, mortgage rates, New Mexico mortgage rates

This entry was posted on Friday, January 23rd, 2009 at 10:15 pm and is filed under Mortgage Ads and Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.